LTS Buyer LLC -- Moody's confirms LTS' B2 CFR; outlook is stable

New York, July 22, 2015 -- Moody's Investors Service ("Moody's") confirmed the B2 Corporate Family Rating and B2-PD Probability of Default Rating of LTS Group Holdings LLC ("LTS" or "the company"). Moody's also confirmed the B1 rating of LTS Buyer LLC's 1st lien senior secured credit facilities and the Caa1 rating of the 2nd lien senior secured term loan. Finally, Moody's assigned a B1 rating to the proposed $829 million incremental 1st lien term lien, a B1 rating to the company's proposed $75 million revolver, and a Caa1 rating to the proposed $157 million incremental 2nd lien term loan. The use of these proceeds will be used to fund the acquisition purchase price for Fibertech Networks ("Fibertech") and to pay down the current outstanding revolver. These rating actions conclude the review of the ratings initiated on April 29, 2015 when the company announced its plans to merge with Fibertech in an all-cash transaction for approximately $1.9 billion. The transaction is expected to close in the third quarter of 2015. The rating outlook is stable.

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