NEW YORK (Standard&Poor's) March 4, 2015--Standard&Poor's Ratings Services today assigned its 'CCC+' issue-level rating and '6' recovery rating to Zayo Group LLC's proposed $730 million add-on to its senior unsecured notes due 2023. The '6' recovery rating indicates our expectation for negligible recovery (0%-10%; low end of range) for noteholders in the event of payment default. Zayo will use proceeds to repay its exiting 8.125% $675 million senior secured notes due 2020. At the same time, we revised the issue-level ratings on the company's senior secured debt to 'B+' from 'B' and revised the recovery rating on this debt to '2' from '3'. The '2' recovery rating indicates our expectation for substantial recovery (70%-90%; high end
