Did Uniti Group, Inc. Deserve to Have Its Credit Rating Slashed Today?

Did Uniti Group, Inc. Deserve to Have Its Credit Rating Slashed Today?

Telecom real estate investment trust Uniti Group (NASDAQ: UNIT) just had its corporate credit rating slashed from B+ to B. In an action note from Standard & Poor's analysts Ryan Gilmore and Allyn Arden, the change was explained as a consequence of Windstream Holdings' (NASDAQ: WIN) simultaneous ratings cut. S&P's outlook for future changes was also set to "negative."

It's true that Windstream is Uniti's largest customer and closest business partner, but should the credit agency punish Uniti for the sins of its former parent company?

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Source: Fool.com