Windstream Holdings Inc. Senior Unsecured Debt Rating Lowered To 'B-' (Recovery: 5); New Senior Secured Debt Rated 'BB-'

NEW YORK (S&P Global Ratings) Nov. 2, 2017--S&P Global Ratings today lowered its issue-level rating on Little Rock, Ark.-based telecommunications provider Windstream Holdings Inc.'s senior unsecured debt at wholly-owned subsidiary Windstream Services LLC to 'B-' from 'B' and revised the recovery rating on this debt to '5' from '4'. The '5' recovery rating indicates our expectation of modest (10% to 30%; rounded estimate: 20%) recovery in the event of payment default. At the same time, we assigned our 'B-' issue-level rating and '5' recovery rating to Windstream Services LLC's $554 million of 6.375% senior unsecured notes due 2023 that were issued in connection with company's completion of certain of its exchange offers. The '5' recovery rating indicates our expectation of

...NEW YORK (S&P Global Ratings) Nov. 2, 2017--S&P Global Ratings today lowered its issue-level rating on Little Rock, Ark.-based telecommunications provider Windstream Holdings Inc.'s senior unsecured debt at wholly-owned subsidiary Windstream Services LLC to 'B-' from 'B' and revised the recovery rating on this debt to '5' from '4'. The '5' recovery rating indicates our expectation of modest (10% to 30%; rounded estimate: 20%) recovery in the event of payment default. At the same time, we assigned our 'B-' issue-level rating and '5' recovery rating to Windstream Services LLC's $554 million of 6.375% senior unsecured notes due 2023 that were issued in connection with company's completion of certain of its exchange offers. The '5' recovery rating indicates our expectation of modest (10% to 30%; rounded estimate: 20%) recovery in the event of payment default. We also assigned a '##-' issue-level rating and '1' recovery rating to Windstream Services LLC's $450 million of 8.625% senior secured...

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