MUMBAI (Thomson Financial) - Moody's upgraded Paetec Holding Corp's
speculative grade liquidity rating to 'SGL-1' from 'SGL-2' -- indicating very
good liquidity -- after the company said it will exercise an accordion option in
its credit agreement for up to 125 mln usd.
As a result of the upsize, the ratings on the senior secured facilities
were downgraded to 'B1' due to the larger proportion of first lien senior
secured debt in the capital structure.
Moody's also affirmed Paetec's 'B2' corporate family rating and positive
outlook.
TFN.newsdesk@thomson.com
jro
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