Moody's rates One Communications notes B1

Moody's Investors Service said it assigned a B2 rating (LGD4, 51%) to One Communications Corp.'s proposed $275 million senior secured note issuance.

The outlook remains stable.

Proceeds will be used to repay some senior secured term loans at par.

One Communications' B2 corporate family rating reflects its moderate financial risk and strong free cash flow generation, the agency said.

Ratings are tempered by the challenges that the management team faces in re-energizing revenue growth, the agency noted.

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