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S&P cuts, withdraws Grande Communications
S&P said it lowered its corporate credit rating on Grande Communications Networks LLC to B from B+ and removed all of its ratings on the company from CreditWatch, where they were placed with negative implications on Aug. 16, 2016.
The outlook is stable.
The agency subsequently withdrew all ratings on the company, including the B corporate credit rating.
S&P said the downgrade follows the announcement that Radiate HoldCo LLC has successfully closed its acquisition of Grande and redeemed all of the company's debt, and it brings the corporate credit rating on Grande in-line with the rating on its new parent, Radiate.
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