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Fitch affirms Windstream
Fitch Ratings said it affirmed Windstream Corp.'s long-term issuer default rating at BB+, secured credit facility at BBB- and senior unsecured notes at BB+. Ratings were removed from Rating Watch negative.
The outlook is stable.
The affirmation concludes a review of the company's prospective credit profile following the completion of a series of four acquisitions within less than a year, according to the agnecy.
Windstream's BB+ issuer default rating incorporates expectations for the company to generate strong operating and free cash flows and to have access to ample liquidity, the agency said.
Recent acquisitions have added meaningful scale to the company, partly offsetting the effect of competition on the company's operations, Fitch said.
Leverage is expected to be in the 3.4 times to 3.5x on a pro forma basis at the end of 2010.
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