Fitch Affirms and Withdraws All Ratings for Cincinnati Bell
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Fitch Ratings has affirmed and simultaneously withdrawn all of its ratings on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Fitch has withdrawn the aforementioned ratings for business reasons.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
Corporate Rating Methodology
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Ian Hodgart, +1-212-908-0819
Fitch Ratings, Inc.
One State Street Plaza
New York, NY 10004
Brian Bertsch, New York, +1 212-908-0549
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