Moody's rates Knology loan B1

Moody's Investors Service said it assigned B1 ratings to Knology, Inc.'s $770 million of proposed first-lien senior secured bank credit facilities and affirmed the company's existing B1 corporate family rating and B2 probability of default rating.

The new credit facilities will refinance Knology's $639 million of existing credit facilities and augment excess cash balances of about $52 million to fund the announced $165 million acquisition of Sunflower Broadband later this year, the agency added.

The speculative-grade liquidity rating remains SGL2, indicating "good" proforma liquidity, and the outlook remains stable, Moody's said.

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