Moody's changes MTN Infrastructure view to negative

Moody's Investors Service said it changed the outlook to negative from stable and affirmed all of its ratings for MTN Infrastructure TopCo (Segra), including its B2 corporate family rating.

“The rating action assumes that MTN's planned acquisition of NorthState Telecommunications Corp. will close as previously anticipated and will be funded with debt,” Moody’s said in a press release.

The outlook reflects Moody's view the acquisition will temper the pace of deleveraging and “that free cash flows will remain negative as the company continues to invest in growth within its existing portfolio and the NorthState business,” the agency said.

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