Moody's affirms WideOpenWest

Moody's Investors Service said it affirmed all ratings for WideOpenWest Finance LLC following the announcement of a $50 million upsize and amendment to the company's senior secured bank credit facilities.

Moody's rates WideOpenWest's $30 million senior secured revolving credit facility due 2010 at B2, its $80 million senior secured term loan A due 2010 at B2, its $170 million senior secured term loan B due 2011 at B2, its senior implied rating at B2 and its senior unsecured issuer rating at Caa1.

The outlook is stable.

While the proposed upsize of the credit facility will be used to fund a $55 million dividend to shareholders, the increased leverage is substantially offset by the company's stronger than expected performance relative to original projections received at the end of last year, according to Moody's.

Moody's said it believes the company can assume the incremental debt without meaningfully altering its financial profile or deviating from projected leverage and coverage targets.

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