New York, December 18, 2014 -- Moody's Investors Service said that Windstream Holdings Inc.'s ("Windstream") announcement that it has changed the proposed structure of its REIT spin off to reduce debt at Windstream Corp. ("WinCorp" Ba3, stable) is credit positive, but does not impact its ratings. Windstream announced today that it will retain a 19.9% share in its planned REIT spinoff which it will then monetize over a 12 month period and use the proceeds to repay WinCorp debt.

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