Fitch keeps Windstream Services on negative watch

Fitch Ratings said it maintained the B issuer default rating of Windstream Services, LLC on rating watch negative.

In addition, Fitch maintained Windstream's first-lien secured debt ratings of BB/RR1, second-lien secured debt ratings of BB-/RR2 and unsecured debt ratings of CCC+/RR6 on negative watch.

“Windstream continues to experience pressure across all segments due to declining legacy-products-related revenue and effects of competition in a challenging operating environment for wireline operators,” the agency said in a news release.

“The enterprise segment remains weak due to effects of legacy revenue, although the strategic revenues, comprised of SDWAN and UCaaS offerings, continue to climb and constituted 54% of the enterprise segment sales during 3Q18.”

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