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KentuckyWired’s fiber buildout delays spark downgrade by Moody’s

January 4, 2018

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Bonds related to KentuckyWired’s plans to build a fiber network in Kentucky via a public-private partnership received a downgrade—from stable to negative—from Moody’s Investors Service. “The change in outlook to negative from stable reflects the further delays in project completion and the rising disagreement between the Project Co and the Commonwealth related to the amount of schedule and compensation relief due to the Project Co for certain material supervening events,” Moody’s wrote in a release detailing the downgrade.

“The resolution of these ongoing negotiations over the next few months will be the next key credit event,” the firm added.

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