Moody's ups Knology outlook to positive

Moody's Investors Service said it changed the outlook for Knology, Inc. to positive from stable and affirmed the company's B2 corporate family and senior secured bank debt ratings, B3 probability of default rating, and SGL-2 liquidity rating.

The change in outlook reflects Knology's successful integration of its PrairieWave and Graceba acquisitions, as well as the company's improved credit metrics and free cash flow generation capabilities as anticipated over the forward rating horizon, the agency noted.

Affected ratings include the company's B2, LGD3, 33% senior secured revolving credit facility due 2012 and B2, LGD3, 33% senior secured term loan due 2012

According to Moody's, Knology's B2 corporate family rating reflects the company's relatively small size, moderately high leverage, and heightened competition from larger, better capitalized cable and telecom operators while these factors are somewhat mitigated by the company's good liquidity, growing and increasingly diverse subscriber base, and improving cash generation capabilities.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.