Fitch Affirms and Withdraws All Ratings for Cincinnati Bell

  Fitch Affirms and Withdraws All Ratings for Cincinnati Bell

Business Wire

CHICAGO -- April 12, 2013

Fitch Ratings has affirmed and simultaneously withdrawn all of its ratings on
Cincinnati Bell, Inc. (CBB) and its subsidiary as follows:

Cincinnati Bell, Inc.

--Issuer Default Rating (IDR) at 'B';

--$40 million senior secured notes at 'BB/RR1';

--$500 million senior unsecured notes due 2017 at 'B+/RR3';

--$684 million senior unsecured notes due 2020 at 'B+/RR3';

--$625 million senior subordinated notes at 'CCC+/RR6';

--$129 million convertible preferred stock at 'CCC+/RR6';

--$200 million senior secured revolving credit facility due 2017 at 'BB/RR1'

Cincinnati Bell Telephone (CBT)

--IDR at 'B';

--Senior unsecured notes at 'BB/RR1'.

The Rating Outlook was Stable.

Fitch has withdrawn the aforementioned ratings for business reasons. The
ratings are no longer relevant to the agency's coverage.

Additional information is available at 'www.fitchratings.com'. The ratings
above were unsolicited and have been provided by Fitch as a service to
investors. The issuer did not participate in the rating process other than
through the medium of its public disclosure.

Applicable Criteria and Related Research:

--'Corporate Rating Methodology' (Aug. 8, 2012);

--'Rating Telecom Companies - Sector Credit Factors' (Aug. 9, 2012).

Applicable Criteria and Related Research

Rating Telecom Companies

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=682323

Corporate Rating Methodology

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=684460

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS.
PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK:
HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING
DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S
PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND
METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF
CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL,
COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM
THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER
PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS
OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN
EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER
ON THE FITCH WEBSITE.

Contact:

Fitch Ratings
Ian Hodgart, +1-212-908-0819
Senior Director
Fitch Ratings, Inc.
One State Street Plaza
New York, NY 10004
or
Media Relations
Brian Bertsch, New York, +1 212-908-0549
brian.bertsch@fitchratings.com
 
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