Radiate Holdco LLC#s $300 Million Senior Unsecured Notes Assigned #CCC+# Issue Rating (Recovery Rating: 6)

Stocks and Financial Services Press Releases Friday January 12, 2018 08:52
NEW YORK--12 Jan--S&P Global Ratings

NEW YORK (S&P Global Ratings) Jan. 11, 2018--S&P Global Ratings today assigned its 'CCC+' issue-level rating and '6' recovery rating to Radiate Holdco LLC's proposed $300 million unsecured notes. The '6' recovery rating indicates our expectation of minimal (0%-10%; rounded estimate: 0%) recovery in a simulated default scenario. Proceeds will be used to fund the previously announced acquisition of WaveDivision Holdings, which is expected to close in the coming weeks.

This does not affect our 'B' corporate credit rating, as this financing was incorporated into our recent affirmation of the rating. For a complete analysis, please see our research update Radiate Holdco LLC 'B' Ratings Affirmed On Its Acquisition Of WaveDivision Holdings, published Oct. 30, 2017.


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