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Windstream noteholder rescinds default notice; earlier claim pending in court

Windstream Holdings Inc. unit Windstream Services LLC is facing one less notice of default from noteholder Aurelius Capital Master Ltd., the company said Dec. 6, but an earlier default notice remains pending in court.

Aurelius Capital, a holder of Windstream Services' 6.375% senior notes due 2023, on Dec. 6 informed the company that it was rescinding a Nov. 27 notice of default related to an exchange offer involving the notes, which had claimed the offer violated the terms of indenture governing the notes. Windstream Services disputed those claims, as noted in a Dec. 6 letter sent to Aurelius before the Nov. 27 default notice was rescinded, the company said in an SEC filing.

A earlier default claim sent by Aurelius on Sept. 21 remains pending in federal district court in the Southern District of New York. Windstream said the allegations in the November notice were substantially the same as claims Aurelius made in litigation related to its September notice, and it plans to vigorously defend against these claims in court.