Midcontinent Communications -- Moody's affirms Midcontinent's B1 CFR and upgrades senior secured ratings due to proposed change to capital structure; outlook stable

New York, November 01, 2016 -- Moody's Investors Service ("Moody's") affirmed Midcontinent Communications's ("Midcontinent" or "Midco") B1 Corporate Family Rating (CFR) and upgraded the company's Ba2 senior secured instrument-level rating to Ba1, three notches above the B1 CFR, following the company's $125 million issuance of unsecured notes. The new issuance of notes will be assigned a B3 unsecured rating and added on to the company's existing $300 million unsecured notes maturing in 2023. The company's B1-PD Probability of Default Rating (PDR) was also affirmed. The outlook remains stable.

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