Hargray Communications Group, Inc. -- Moody's assigns B2 rating to Hargray's term loan following repricing and add-on

New York, September 28, 2016 -- Moody's Investors Service ("Moody's") has assigned a B2 rating to Hargray Communications Group, Inc.'s ("Hargray") proposed repricing of its existing 1st lien term loan, which also includes a $50 million add-on. The proceeds will fund a $58 million dividend to existing shareholders. Additionally, Hargray's $25 million revolving credit facility's maturity date has been extended 9 months. These transactions will not impact Hargray's B2 corporate family rating ("CFR") or its stable outlook as the incremental debt will not push Hargray's credit metrics beyond the limits of its current ratings. Moody's expects the repricing to lower the interest rate on the term loan by 50 basis points.

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