Moody's rates Consolidated loan Ba3

Moody's Investors Service said it assigned a Ba3 rating to the proposed $515 million senior secured term loan B for Consolidated Communications Inc.

All other ratings including the B1 corporate family rating remain unchanged.

The use of proceeds is expected to refinance the $467 million term loan that matures in December 2014, repay $35 million drawn under its $50 million revolver and fees and expenses for the transaction.

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