trending Market Intelligence /marketintelligence/en/news-insights/trending/1yx1ikzwu4mlszgld3peua2 content esgSubNav
In This List

Moody's downgrades Windstream unit on 'sustained weak operating trends'

Blog

Europe: 5 key OTT trends to watch in 2022

Blog

Broadcast deal market recap 2021

Blog

Price wars in India: Disney+ Hotstar vs. Amazon Prime Video vs. Netflix

Blog

Volume of Investment Research Reports on Inflation Increased in Q4 2021


Moody's downgrades Windstream unit on 'sustained weak operating trends'

Moody's cut Windstream Holdings Inc. unit Windstream Services LLC's corporate family rating to B3 from B2, citing the company's "sustained weak operating trends and a challenging debt maturity profile."

The rating agency lowered Windstream Services' probability of default rating to B3-PD from B2-PD, its secured rating to B3 from B2 and its unsecured rating to Caa1 from B3. Windstream's speculative-grade liquidity rating remains at SGL-2, reflecting good liquidity.

The outlook remains negative due to Moody's expectation of continued pressure on EBITDA, negative free cash flow including persistent restructuring costs, and low asset coverage relative to debt, the agency said Feb. 28.