Moody's assigns Nextgen loans Ba3

Moody's Investors Service said it assigned a provisional Ba3 corporate family rating to Nextgen Networks Group Pty Ltd.

At the same time, the agency assigned provisional Ba3 ratings to a dollar-denominated senior secured term loan facility (about A$400 million) and a dollar-denominated senior secured revolving credit facility (around A$75 million), both to be entered into by Nextgen Networks Pty Ltd. and its U.S co-borrower.

The facilities will be guaranteed by Nextgen and each of Nextgen's material wholly owned subsidiaries.

The outlook is stable.

"The (P)Ba3 rating reflects Nextgen's market position as Australia's second largest fibre backhaul operator," Moody's vice president and senior analyst Maurice O'Connell said in a news release.

"At the same time the rating considers Nextgen's broad product offering based on its extensive 17,000 kilometer fibre network across Australia which allows Nextgen to offer tailored solutions to Government, Enterprise and Business markets."

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