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Fitch downgrades Windstream
Fitch Ratings said it downgraded the issuer default rating of Windstream Services, LLC to B from BB- based on continued weakness in the company's operating trends.
The agency also downgraded the senior secured debt to BB/RR1 from BB+/RR1 and the senior unsecured notes to B/RR4 from BB-/RR4.
The ratings remain on rating watch negative.
The issuer default rating and the related issue ratings for Windstream Holdings of the Midwest (WHM) were withdrawn due to lack of sufficient information.
Fitch said the action reflects its expectation that Windstream's revenues will decline at a faster pace than previously anticipated, due to continued weak enterprise trends within the company's legacy products and services and the effects of competition in consumer markets.
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