Moody's affirms Gabriel

Moody's Investors Service said it affirmed the B2 corporate family and B3 probability-of-default ratings of Gabriel Communications Finance Co. and the B2 rating on senior secured bank credit facility (LGD3, 32%).

Gabriel is a wholly owned subsidiary of NuVox, Inc.

The outlook is stable.

EBITDA growth allowed NuVox to reduce debt-to-EBITDA leverage to the mid 2 times from the mid 3 times, according to the agency.

Gabriel's B2 corporate family rating reflects the challenging competitive environment, moderate size and some regulatory risk, the agency said.

Good liquidity, evidence of success in achieving synergies and position in targeted Southeast and Midwest markets support ratings, the agency noted.

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