Moody's rates Zayo notes B2

Moody's Investors Service said it assigned a B2 corporate family rating and a B2 probability of default rating for Zayo Group, LLC, along with a B2 (LGD3-49%) rating to the company's $225 million senior secured notes. The company said it plans to use the borrowings to refinance existing debt and for general corporate purposes.

The outlook is stable.

The ratings reflect the company's deep fiber network in its markets that have helped drive strong revenue growth in a difficult operating and liquidity-strapped environment for traditional competitive telecommunications carriers, Moody's said.

The company has delivered quarter-over-quarter revenue growth since 2007, while many carriers are still witnessing revenue declines, the agency said.

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