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Moody's to affirm WideOpenWest
Moody's Investors Service said it expects the corporate family rating of WideOpenWest Finance, LLC to remain B2 should it execute on its proposed acquisition of Knology, Inc.
Moody's said it believes that the transaction will incorporate both incremental debt and an equity contribution from Avista Capital Partners, which currently owns WideOpenWest.
Based on WideOpenWest's historic tolerance for raising leverage related to acquisitions and dividends as well as Knology's currently stronger credit profile, Moody's said it anticipates leverage of the combined entity will be in the high 6x debt-to-EBITDA range, in line with WideOpenWest's existing leverage.
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