U.S. telecommunications provider Windstream Holdings Inc. recently disclosed that it received a purported notice of default from a noteholder claiming the company violated covenants under the indenture governing its 6.375% senior notes due 2023. We cannot speculate on potential outcomes from the notice. We are affirming all ratings on Windstream, including our 'B' corporate credit rating. The negative outlook continues to reflect uncertainty about performance stemming from intense competition from cable providers and low visibility into the impact of cost-cutting initiatives. Moreover, avenues to address the company's medium-term maturities could be constrained, in our view, absent meaningful improvement in operating performance. S&P Global Ratings today affirmed its 'B' corporate credit rating on Little Rock, Ark.-based Windstream Holdings Inc. The outlook
