World: Fitch Rates Windstream's $200MM New Senior Unsecured Debt Offering 'BB+'.

Section: Rating - Fitch Ratings assigns a 'BB+' rating to Windstream Corporation's (Windstream; NYSE: WIN) latest offering of $200 million of 7.75% senior unsecured notes due 2020. The notes are being issued as additional notes under the indenture governing the company's issuance of $500 million of 7.75% senior unsecured 2020 notes in October 2010, also rated 'BB+'. Windstream's Issuer Default Rating (IDR) is 'BB+'. The Rating Outlook is Stable.

Proceeds from the offering, combined with drawings on the company's revolver, will be used to fund a tender offer for the $400 million outstanding principal amount of 7.75% senior notes due 2015 issued by subsidiaries Valor Telecommunications Enterprises, LLC and Valor Telecommunications Finance Corp. (the Valor notes), for accrued and unpaid interest on the notes and …