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Moody’s: Windstream, EarthLink unaffected by acquisition
Moody's Investors Service said that Windstream Services, LLC’s announcement of a definitive agreement to purchase EarthLink Holdings Corp. will not immediately impact the ratings of either company.
Windstream (B1 stable) plans to acquire EarthLink (B2 stable) in an all-stock merger valued at approximately $1.1 billion, including EarthLink's existing debt.
At transaction close, Windstream plans to repay all of EarthLink's existing debt, at which time Moody's would withdraw all of EarthLink's ratings.
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