New York, September 13, 2016 -- Moody's Investors Service ("Moody's") has assigned a B3 rating to Cincinnati Bell Inc.'s ("CBB") proposed $425 million issuance of senior unsecured notes due 2024. The proceeds of the notes, together with cash on hand, will be used to purchase any and all of the senior unsecured notes due 2020 that are validly tendered in the company's tender offer and to redeem, repurchase or satisfy and discharge any senior unsecured notes due 2020 not purchased in the tender offer, as well as paying related transaction fees and expenses. The B3 rating of the unsecured notes also reflects Moody's expectation that management will pay down secured debt with proceeds from future CyrusOne share sales, and that the capital structure will rebalance over time and maintain a higher percentage of unsecured debt relative to secured debt. The outlook remains stable.

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