Deutsche Bank Cuts Windstream (WIN) Bonds to Sell on 'Dividend Fatigue'
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Deutsche Bank downgraded Windstream Corporation (NASDAQ: WIN) bonds to Sell citing "dividend fatigue."
"Our concern is Windstream's steadfast insistence on maintaining its dividend payout (~ $590 million in 2013) when it likely faces material increases in cash taxes past 2013
as well as continued competitive pressures that we believe would be better defended with a net leverage profile closer to 3.0x, like its peers."
"Our concern is Windstream's steadfast insistence on maintaining its dividend payout (~ $590 million in 2013) when it likely faces material increases in cash taxes past 2013
as well as continued competitive pressures that we believe would be better defended with a net leverage profile closer to 3.0x, like its peers."
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