Moody's confirms GTT's B2 CFR, outlook stable
New York, November 28, 2016-- Moody's Investors Service, has confirmed GTT Communications, Inc.' s B2 corporate family rating following the expected closing of its acquisition of Hibernia. To finance the acquisition as well as its repay existing debt, GTT will raise approximately $1 billion of new debt and contribute $75 million of equity. Moody's has also upgraded the company's probability of default rating to B2-PD from B3-PD, assigned senior secured rating of B1 and assigned a...
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