Moody's: No impact from Cequel loan upsizing

Moody's Investors Service said the recently announced plan to upsize the term loan does not impact the Ba2 rating on the Cequel Communications, LLC's credit facility or the B1 corporate family rating of its parent company, Cequel Communications Holdings, LLC.

The proceeds will be used to repurchase a portion of its outstanding 8 5/8% senior notes due 2017.

The transaction would favorably extend the maturity profile and modestly reduce interest expense, Moody's said.

It would not meaningfully alter the split of bank debt and bonds within the capital structure and therefore does not impact the Ba2 rating on the credit facility or the B3 rating on the bonds of Cequel Communications Holdings, the agency said.

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