Telecommunications Management, LLC -- Moody's says NewWave's proposed term loan upsize in line with expectations, does not impact B3 CFR

New York, March 06, 2014 -- Moody's Investors Service said that the proposed $38.5 million add-on of credit facilities of Telecommunications Management LLC (NewWave) does not impact its B3 corporate family rating or stable outlook. The incremental credit facilities are comprised of a $10 million revolver commitment increase, a $13.5 million first lien term loan upsize and a $15 million second lien term loan upsize. The B2 rating on the first lien and the Caa2 rating on the second lien remain unchanged as well, as the transaction does not materially impact the mix of debt capital. NewWave also plans to reprice the existing $217.4 million first lien term loan, which should partially offset the increased interest expense of the incremental debt. Moody's expects the company to use proceeds to fund future acquisitions and to support continued upgrade of its network.

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