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Moody's rates Gabriel loans B3
Moody's Investors Service said it has assigned a B3 rating for the proposed $20 million five-year senior secured revolving credit facility and $140 million six-year term loan at Gabriel Communications Finance Co., a wholly owned subsidiary of NuVox Inc.
The outlook is positive.
The ratings broadly reflect NuVox's substantial business risk as a competitive local exchange carrier, relatively moderate size, no track record in generating meaningful free cash flow to date, an unsettled regulatory environment and the potential for acquisitions, which is offset somewhat by comparatively moderate financial risk, Moody's said.
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