Long-term Debt and Capital Lease Obligations: | Long-term Debt and Lease Obligations: Windstream Holdings has no debt obligations. All debt, including the senior secured credit facility described below, have been incurred by Windstream Services and its subsidiaries. Windstream Holdings is neither a guarantor of nor subject to the restrictive covenants imposed by such debt. Long-term debt was as follows at December 31: (Millions) 2016 2015 Issued by Windstream Services: Senior secured credit facility, Tranche B5 – variable rates, due August 8, 2019 $ 572.3 $ 578.2 Senior secured credit facility, Tranche B6 – variable rates, due March 29, 2021 (a) 894.8 — Senior secured credit facility, Revolving line of credit – variable rates, due 475.0 300.0 Debentures and notes, without collateral: 2017 Notes – 7.875%, due November 1, 2017 — 904.1 2020 Notes – 7.750%, due October 15, 2020 700.0 700.0 2021 Notes – 7.750%, due October 1, 2021 809.3 920.4 2022 Notes – 7.500%, due June 1, 2022 441.2 485.9 2023 Notes – 7.500%, due April 1, 2023 343.5 540.1 2023 Notes – 6.375%, due August 1, 2023 585.7 700.0 Issued by subsidiaries of the Company: Windstream Holdings of the Midwest, Inc. – 6.75%, due April 1, 2028 (b) 100.0 100.0 Net (discount) premium on long-term debt (c) (7.2 ) 4.6 Unamortized debt issuance costs (c) (51.0 ) (62.8 ) 4,863.6 5,170.5 Less current maturities (14.9 ) (5.9 ) Total long-term debt $ 4,848.7 $ 5,164.6 Weighted average interest rate 7.0 % 6.8 % Weighted maturity 4.7 years 5.3 years (a) If the maturity of the revolving line of credit is not extended prior to April 24, 2020, the maturity date of the Tranche B6 term loan will be April 24, 2020; provided further, if the 2020 Notes have not been repaid or refinanced prior to July 15, 2020 with indebtedness having a maturity date no earlier than March 29, 2021, the maturity date of the Tranche B6 term loan will be July 15, 2020. (b) These bonds are secured equally with the senior secured credit facility with respect to the assets of Windstream Holdings of the Midwest, Inc. (c) The net (discount) premium balance and unamortized debt issuance costs are amortized using the interest method over the life of the related debt instrument. Senior Secured Credit Facility – On March 29, 2016, Windstream Services executed an incremental amendment to its existing senior secured credit facility to provide for the issuance of an aggregate principal amount $600.0 million term loan under Tranche B6 due March 29, 2021, the proceeds of which were used to repurchase $441.1 million of outstanding 7.875 percent notes due November 1, 2017 (the “2017 Notes”) pursuant to a tender offer and to repay other debt obligations of Windstream Services along with related fees and expenses. The Tranche B6 term loan was issued at a discount of $15.0 million . Debt issuance costs associated with the Tranche B6 borrowings were $11.7 million , which were capitalized and are being amortized over the life of the term loan. 6. Long-term Debt and Lease Obligations, Continued: On September 30, 2016, Windstream Services repriced at par $597.0 million of borrowings outstanding under Tranche B6 and issued at par an incremental $150.0 million of borrowings under Tranche B6. In connection with the repricing, Windstream Services incurred $6.7 million in arrangement, legal and other fees. Based on an analysis of participating creditors, Windstream Services concluded that a portion of the repricing transaction should be accounted for as a new debt issuance, a portion as a debt modification, and the remainder as a debt extinguishment. As a result, $0.6 million of the arrangement, legal and other fees were recorded as debt issuance costs, with the remaining $6.1 million charged to interest expense in accordance with debt modification accounting. At the time of the repricing transaction, unamortized debt issuance and discount related to the original issuance of Tranche B6 term loan totaled $24.4 million , of which $3.1 million were included in the loss on debt extinguishment recognized in the third quarter of 2016, while the remaining $21.3 million continue to be deferred and amortized to interest expense over the remaining life of the term loan in accordance with debt modification accounting. In December 2016, Windstream Services issued an aggregate principal amount of $150.0 million in incremental borrowings under Tranche B6, the proceeds of which were used to pay down amounts outstanding under the revolving line of credit and to pay $1.2 million in related fees and expenses. The incremental Tranche B6 term loan was issued at a price of 99.0 percent of the principal amount of the loan, resulting in a discount of $1.5 million . On April 24, 2015, Windstream Services had previously amended its existing senior secured credit facility to include a revolving line of credit in an aggregate principal amount of $1,250.0 million and Tranche B5 term loan. The amended credit facility provides that Windstream Services may seek to obtain incremental revolving or term loans in an unlimited amount subject to maintaining a maximum secured leverage ratio and other customary conditions, including obtaining commitments and pro forma compliance with financial maintenance covenants consisting of a maximum debt to consolidated earnings before interest, taxes, depreciation and amortization (“EBITDA”) ratio and a minimum interest coverage ratio. In addition, Windstream Services may request extensions of the maturity date under any of its existing revolving or term loan facilities. Interest rates applicable to the Tranche B5 term loan are, at Windstream Services’ option, equal to either a base rate plus a margin of 1.75 percent per annum or London Interbank Offered Rate (“LIBOR”) plus a margin of 2.75 percent per annum. LIBOR for the Tranche B5 term loan shall at no time be less than 0.75 percent . As a result of the September 30, 2016 repricing discussed above, interest rates applicable to the Tranche B6 decreased 1.00 percent from LIBOR plus 5.00 percent per annum to LIBOR plus 4.00 percent per annum. Windstream Services retained the option to have interest on Tranche B6 be equal to a base rate plus a margin of 4.00 percent per annum. LIBOR for the Tranche B6 term loan shall at no time be less than 0.75 percent . Tranche B5 and B6 term loans made under the credit facility are subject to quarterly amortization payments in an aggregate amount equal to 0.25 percent of the initial principal amount of such term loans, with the remaining balance payable on August 8, 2019 and March 29, 2021, respectively. The senior secured credit facility is guaranteed, jointly and severally, by certain of Windstream Services’ wholly owned subsidiaries. Revolving line of credit – As a result of the April 24, 2015 amendment to the credit facility, the maturity date of the revolving line of credit was extended to April 24, 2020. Windstream Services may obtain revolving loans and may issue up to $30.0 million of letters of credit, which upon issuance reduce the amount available for other extensions of credit. Accordingly, the total amount outstanding under the letters of credit and the indebtedness incurred under the revolving line of credit may not exceed $1,250.0 million . Borrowings under the revolving line of credit may be used for permitted acquisitions, working capital and other general corporate purposes of Windstream Services and its subsidiaries. Windstream Services will pay a commitment fee on the unused portion of the commitments under the revolving credit facility that will range from 0.40 percent to 0.50 percent per annum, depending on the debt to consolidated EBITDA ratio of Windstream Services and its subsidiaries. Revolving loans made under the credit facility are not subject to interim amortization and such loans are not required to be repaid prior to April 24, 2020, other than to the extent the outstanding borrowings exceed the aggregate commitments under the revolving credit facility. Interest rates applicable to loans under the revolving line of credit are, at Windstream Services’ option, equal to either a base rate plus a margin ranging from 0.25 percent to 1.00 percent per annum or LIBOR plus a margin ranging from 1.25 percent to 2.00 percent per annum, based on the debt to consolidated EBITDA ratio of Windstream Services and its subsidiaries. During 2016, Windstream Services borrowed $2,791.0 million under the revolving line of credit in its senior secured credit facility and retired $2,616.0 million of these borrowings through December 31, 2016 . Comparatively, Windstream Services borrowed $2,355.0 million under the revolving line of credit and through the completion of the debt-for-debt exchange and repayments retired $2,660.0 million of these borrowings in 2015. Considering letters of credit of $24.2 million , the amount available for borrowing under the revolving line of credit was $750.8 million at December 31, 2016 . 6. Long-term Debt and Lease Obligations, Continued: The variable interest rate on the revolving line of credit ranged from 2.25 percent to 4.50 percent , and the weighted average rate on amounts outstanding was 2.55 percent during 2016, as compared to variable interest rates during 2015 which ranged from 2.19 percent to 4.50 percent with a weighted average rate on amounts outstanding of 2.39 percent . Debt Exchanges – In two separate transactions completed in June 2016, Windstream Services transferred all of its shares of CS&L common stock to its bank creditors in exchange for the retirement of $672.0 million of aggregate borrowings outstanding under its revolving line of credit and to satisfy transaction-related expenses. In completing the debt-for-equity exchange, Windstream Services recognized a net gain on the disposal of the CS&L common stock (see Note 5). In conjunction with the REIT spin-off, Windstream completed a debt-for-debt exchange retiring $1.7 billion aggregate principal amount of borrowings outstanding under Tranches A3, A4 and B4 of Windstream Services’ senior credit facility and $752.2 million aggregate principal amount of borrowings outstanding under the revolving line of credit. Following the completion of the debt-for-debt exchange, Windstream Services repaid the remaining $241.8 million aggregate principal amount of borrowings under Tranche B4. The debt-for-debt exchange and repayment were accounted for under the extinguishment method of accounting and as a result, Windstream Services recognized a loss due to the extinguishment of the aforementioned debt obligations of $15.9 million in 2015. Debentures and Notes Repaid in 2016 2017 Notes – On September 30, 2016, Windstream Services redeemed the remaining $369.5 million aggregate principal amount outstanding of its 7.875 percent senior unsecured notes due November 1, 2017, (the “2017 Notes”) at a redemption price of $396.4 million , which included a premium payable to creditors of $26.9 million . At the time of redemption, there was $2.7 million in unamortized net discount and debt issuance costs related to these notes. During 2016, Windstream Services also repurchased $93.5 million aggregate principal amount of the 2017 Notes at a repurchase price of $99.5 million , including accrued and unpaid interest, under a debt repurchase program authorized by Windstream Services’ board of directors. In addition, on March 29, 2016, Windstream Services repurchased $441.1 million aggregate principal amount of the 2017 Notes for total consideration of $477.5 million , plus accrued interest, pursuant to a cash tender offer. Under the tender offer, Windstream Services paid total consideration of $1,082.50 per $1,000 principal amount of the 2017 Notes, which included a $30 early tender payment, plus accrued and unpaid interest. At the time of the repurchases, there was $5.7 million in unamortized net discount and debt issuance costs related to the repurchased notes. Proceeds from the issuance of the Tranche B6 term loan and available borrowings under the amended revolving line of credit were used to fund the redemption and repurchases of the 2017 Notes, which were accounted for as debt extinguishments. Partial Repurchase of Senior Notes – Pursuant to the debt repurchase program discussed above, during 2016, Windstream Services also repurchased in the open market $466.8 million aggregate principal amount of its senior unsecured notes consisting of the following: • $111.1 million aggregate principal amount of 7.750 percent senior unsecured notes due October 1, 2021, (the “2021 Notes”), at a repurchase price of $95.2 million , including accrued and unpaid interest; • $44.8 million aggregate principal amount of 7.500 percent senior unsecured notes due June 1, 2022, (the “2022 Notes”), at a repurchase price of $37.0 million , including accrued and unpaid interest; and • $196.6 million aggregate principal amount of 7.500 percent senior unsecured notes due April 1, 2023 and $114.3 million aggregate principal amount of 6.375 percent senior unsecured notes due August 1, 2023, (collectively the “2023 Notes”) at a repurchase price of $171.4 million and $101.0 million , including accrued and unpaid interest, respectively. The repurchases were funded utilizing available borrowings under the amended revolving line of credit. At the time of repurchase, there was $5.3 million in unamortized premium and debt issuance costs related to the repurchased notes. The partial repurchases were accounted for under the extinguishment method of accounting, and as a result, Windstream Services recognized a net gain on the early extinguishment of these debt obligations. 6. Long-term Debt and Lease Obligations, Continued: Debentures and Notes Repaid in 2015 Partial Repurchase of Senior Notes – Under the debt repurchase program, during 2015 Windstream Services repurchased in the open market $299.5 million aggregate principal amount of its senior unsecured notes consisting of the following: • $195.9 million aggregate principal amount of the 2017 Notes at a repurchase price of $209.6 million , including accrued and unpaid interest; • $29.6 million aggregate principal amount of the 2021 Notes, at a repurchase price of $25.8 million , including accrued and unpaid interest; • $14.1 million aggregate principal amount of the 2022 Notes, at a repurchase price of $11.5 million , including accrued and unpaid interest; and • $59.9 million aggregate principal amount of the 2023 Notes at a repurchase price of $50.2 million , including accrued and unpaid interest. At the time of repurchase, there was $3.9 million in unamortized net discount and debt issuance costs related to the repurchased notes. The partial repurchases were funded utilizing available borrowings under the amended revolving line of credit and were accounted for under the extinguishment method of accounting and, as a result, Windstream Services recognized a total pre-tax gain of $7.0 million in 2015. 2018 Notes – On May 27, 2015, Windstream Services redeemed all of its $400.0 million aggregate principal amount of 8.125 percent senior unsecured notes due September 1, 2018 (the “2018 Notes”), at a redemption price payable in cash equal to $1,040.63 per $1,000 principal amount of the notes, plus accrued and unpaid interest. At the time of redemption, there was $1.4 million and $4.0 million in unamortized discount and debt issuance costs, respectively, related to the 2018 Notes. PAETEC 2018 Notes – On May 27, 2015, PAETEC Holding, LLC (“PAETEC”), a direct, wholly owned subsidiary of Windstream Services, redeemed all $450.0 million of the outstanding aggregate principal amount of 9.875 percent notes due 2018 (the “PAETEC 2018 Notes”), at a redemption price payable in cash equal to $1,049.38 per $1,000 principal amount of the notes, plus accrued and unpaid interest. At the time of redemption, there was $16.9 million in unamortized premium related to the PAETEC 2018 Notes. Windstream used a portion of the $1.035 billion cash payment received from CS&L in the spin-off of certain telecommunication network assets to redeem the 2018 Notes and the PAETEC 2018 Notes. The redemptions were accounted for as extinguishments and Windstream Services recognized a loss in connection with the early extinguishment of these two debt obligations. Cinergy Communications Company – On April 24, 2015, Windstream Services repaid all $1.9 million of the outstanding aggregate principal amount of these unsecured notes utilizing available borrowings under the amended revolving line of credit. Windstream Services may call certain debentures and notes at various premiums on early redemption. These debentures and notes consist of $700.0 million in aggregate principal amount of 7.750 percent senior notes due October 15, 2020, the remaining aggregate principal amounts due related to the 2021, 2022, and 2023 Notes. In addition, Windstream Services may call debt issued by Windstream Holdings of the Midwest, Inc. at various premiums upon early redemption. 6. Long-term Debt and Lease Obligations, Continued: Maturities for long-term debt outstanding as of December 31, 2016 , excluding $7.2 million of unamortized net discount and $51.0 million of unamortized debt issuance costs, were as follows for the years ended December 31: Year (Millions) 2017 $ 14.9 2018 14.9 2019 569.5 2020 1,183.9 2021 1,668.2 Thereafter 1,470.4 Total $ 4,921.8 Net Loss on Early Extinguishment of Debt The net loss on early extinguishment of debt was as follows for the year ended December 31 : (Millions) 2016 2015 Senior secured credit facility: Premium on early redemption $ — $ (6.6 ) Third-party fees for early redemption — (0.7 ) Unamortized discount on original issuance (1.7 ) — Unamortized debt issuance costs on original issuance (1.4 ) (8.6 ) Loss on early extinguishment of senior secured credit facility (3.1 ) (15.9 ) 2017 Notes: Premium on early redemption (26.9 ) — Premium on repurchases (40.6 ) (8.6 ) Third-party fees for repurchases (2.4 ) — Unamortized discount on original issuance (3.0 ) (0.9 ) Unamortized debt issuance costs on original issuance (5.4 ) (1.8 ) Loss on early extinguishment of 2017 Notes (78.3 ) (11.3 ) 2018 Notes: Premium on early redemption — (16.3 ) Unamortized discount on original issuance — (1.4 ) Unamortized debt issuance costs on original issuance — (4.0 ) Loss on early extinguishment of 2018 Notes — (21.7 ) Partial repurchase of 2021, 2022 and 2023 Notes: Discount on early repurchase 68.7 19.4 Unamortized net premium on original issuance 0.9 0.3 Unamortized debt issuance costs on original issuance (6.2 ) (1.4 ) Gain on early extinguishment from partial repurchases of 2021, 2022 and 2023 Notes 63.4 18.3 PAETEC 2018 Notes: Premium on early redemption — (22.2 ) Unamortized premium on original issuance — 16.9 Loss on early extinguishment of PAETEC 2018 Notes — (5.3 ) Cinergy Communications Company Notes: Premium on early redemption — (0.5 ) Loss on early extinguishment of Cinergy Communication Company Notes — (0.5 ) Net loss on early extinguishment of debt $ (18.0 ) $ (36.4 ) 6. Long-term Debt and Lease Obligations, Continued: Long-term Lease Obligations Leaseback of Telecommunications Network Assets – Following the spin-off transaction (see Note 3), on April 24, 2015, Windstream Holdings entered into a long-term triple-net master lease with CS&L to lease back the telecommunications network assets. Under terms of the master lease, Windstream Holdings has the exclusive right to use the telecommunications network assets for an initial term of 15 years with up to four , five -year renewal options. Windstream Holdings is required to pay all property taxes, insurance, and repair or maintenance costs associated with the leased property. The master lease provides for an annual rent of $650.0 million paid in equal monthly installments in advance and is fixed for the first three years. Thereafter, rent will increase on an annual basis at a base rent escalator of 0.5 percent . Future lease payments due under the agreement reset to fair market rental rates upon Windstream Holdings’ execution of the renewal options. During December 2015, we requested and CS&L agreed to fund $43.1 million of capital expenditures. As a result, the annual lease payment increased at a rate of 8.125 percent of the funds received from CS&L, or from $650.0 million to $653.5 million . CS&L also has the right, but not the obligation, upon Windstream’s request, to fund additional capital expenditures of Windstream in an aggregate amount of up to $250.0 million for a maximum period of five years . Monthly rent paid by us to CS&L will increase in accordance with the master lease effective as of the date of the funding. If CS&L exercises this right, the lease payments under the master lease will be adjusted at a rate of 8.125 percent of the capital expenditures funded by CS&L during the first two years and at a floating rate based on CS&L’s cost of capital thereafter. Additionally, if CS&L agrees to fund the entire $250.0 million , the initial term of the master lease will be increased from 15 years to 20 years and the number of renewal terms will be reduced from four renewal terms of five years each to three renewal terms of five years each. Due to various forms of continuing involvement, including Windstream Services or its subsidiaries, retaining bare legal title (but not beneficial ownership) to the various easements, permits and pole attachments related to the telecommunications network assets, we accounted for the transaction as a failed spin-leaseback for financial reporting purposes. As a result, the net book value of the network assets transferred to CS&L continue to be reported in our consolidated balance sheet and all depreciable assets will be fully depreciated over the initial lease term of 15 years . At inception of the master lease, we recorded a long-term lease obligation of approximately $5.1 billion equal to the sum of the minimum future annual lease payments over the 15 -year lease term discounted to the present value based on Windstream Services’ incremental borrowing rate. Funding received from CS&L in December 2015 for capital expenditures was recorded as an increase to the long-term lease obligation. The effective interest rate on the long-term lease obligation is approximately 10.1 percent . As annual lease payments are made, a portion of the payment will decrease the long-term lease obligation with the balance of the payment charged to interest expense using the effective interest method. As the master lease was entered into by Windstream Holdings for the direct benefit of Windstream Services and its subsidiaries, Windstream Services is also deemed to have continuing involvement due to retaining its regulatory obligations associated with operating the telecommunications network assets. Accordingly, the effects of the failed spin-leaseback transaction have also been reflected in the standalone consolidated financial statements of Windstream Services. Notwithstanding the foregoing accounting treatment, neither Windstream Services or its subsidiaries is a counterparty or obligor to the master lease agreement. Leaseback of Real Estate Contributed to Pension Plan – During 2014, we contributed certain of our owned real property to the Windstream Pension Plan and then entered into agreements to leaseback the properties for continued use by our operating subsidiaries. Independent appraisals of the properties contributed were obtained and at the dates of contribution the properties’ aggregate fair value was $80.9 million . The lease agreements include initial lease terms of 10 years for certain properties and 20 years for the remaining properties at an aggregate annual rent of approximately $6.3 million . The lease agreements provide for annual rent increases ranging from 2.0 percent to 3.0 percent over the initial lease term and may be renewed for up to three additional five -year terms. The properties are managed on behalf of the Windstream Pension Plan by an independent fiduciary and terms of the lease agreements were negotiated with the fiduciary on an arm’s-length basis. During the fourth quarter of 2015 in conjunction with the sale of the data center business, Windstream Services repurchased at fair value one of the properties contributed to the Windstream Pension Plan for $8.2 million in cash. As a result, we derecognized a portion of the associated long-term lease obligation of $8.7 million and recorded a pre-tax gain of $0.5 million . Following the repurchase, aggregate annual rent due under the lease agreements declined from approximately $6.3 million to $6.0 million . 6. Long-term Debt and Lease Obligations, Continued: Due to various forms of continuing involvement, including Windstream Services’ benefit from the future appreciation of the property, the transaction has been accounted for as a failed contribution-leaseback. Accordingly, the properties continue to be reported as assets of Windstream and depreciated over their remaining useful lives until termination of the lease agreement. We recorded a long-term lease obligation equal to the fair value of the properties at the date of contribution. No gain or loss was recognized on the contribution. As lease payments are made to the Windstream Pension Plan, a portion of the payment is applied to the long-term lease obligation with the balance of the payment charged to interest expense using the effective interest method. A summary of the current and noncurrent portions of the long-term lease obligations was as follows: December 31, 2016 December 31, 2015 (Millions) Current Noncurrent Total Current Noncurrent Total Assets Subject to Leaseback: Telecommunications network assets $ 168.7 $ 4,759.0 $ 4,927.7 $ 152.7 $ 4,927.7 $ 5,080.4 Real estate contributed to pension plan — 72.9 72.9 — 72.7 72.7 Total $ 168.7 $ 4,831.9 $ 5,000.6 $ 152.7 $ 5,000.4 $ 5,153.1 Undiscounted future minimum payments during the initial terms of the leases were as follows for the years ended December 31: (Millions) Leaseback of Telecommunications Network Assets Leaseback of Real Estate Contributed to Pension Plan Total Year 2017 $ 653.5 $ 6.2 $ 659.7 2018 655.7 6.3 662.0 2019 658.9 6.5 665.4 2020 662.2 6.7 668.9 2021 665.6 6.9 672.5 Thereafter 5,663.6 69.4 5,733.0 Total $ 8,959.5 $ 102.0 $ 9,061.5 Capital Lease Obligations We lease facilities and equipment for use in our operations. These facilities and equipment are included in outside communications plant in property, plant and equipment in the accompanying consolidated balance sheets. Lease agreements that include a bargain purchase option, transfer of ownership, contractual lease term equal to or greater than 75 percent of the remaining estimated economic life of the leased facilities or equipment or minimum lease payments equal to or greater than 90 percent of the fair value of the leased facilities or equipment are accounted for as capital leases in accordance with authoritative guidance for capital leases. These capital lease obligations are included in the accompanying consolidated balance sheets within other current liabilities and other liabilities. During 2016 and 2015, we acquired equipment under capital leases of $50.8 million and $36.4 million , respectively. 6. Long-term Debt and Lease Obligations, Continued: Future minimum lease payments under capital lease obligations were as follows for the years ended December 31: Year (Millions) 2017 $ 27.1 2018 18.3 2019 10.7 2020 0.6 2021 0.4 Thereafter 0.7 Total future payments 57.8 Less: Amounts representing interest 3.5 Present value of minimum lease payments $ 54.3 Interest Expense Interest expense was as follows for the years ended December 31: (Millions) 2016 2015 2014 Interest expense - long-term debt $ 350.9 $ 442.0 $ 539.9 Interest expense - long-term lease obligations: Telecommunications network assets 500.8 351.6 — Real estate contributed to pension plan 5.8 6.7 2.8 Impact of interest rate swaps 11.0 20.5 29.0 Interest on capital leases and other 2.8 2.8 3.8 Less capitalized interest expense (10.7 ) (10.4 ) (3.7 ) Total interest expense $ 860.6 $ 813.2 $ 571.8 Debt Compliance The terms of Windstream Services’ credit facility and indentures include customary covenants that, among other things, require maintenance of certain financial ratios and restrict Windstream Services’ ability to incur additional indebtedness. These financial ratios include a maximum leverage ratio of 4.5 to 1.0 and a minimum interest coverage ratio of 2.75 to 1.0 . In addition, the covenants include restrictions on dividend and certain other types of payments. As of December 31, 2016 , Windstream Services was in compliance with all of these covenants. In addition, certain of Windstream Services’ debt agreements contain various covenants and restrictions specific to the subsidiary that is the legal counterparty to the agreement. Under Windstream Services’ long-term debt agreements, acceleration of principal payments would occur upon payment default, violation of debt covenants not cured within 30 days, a change in control including a person or group obtaining 50 percent or more of Windstream Services’ outstanding voting stock, or breach of certain other conditions set forth in the borrowing agreements. Windstream Services and its subsidiaries were in compliance with these covenants as of December 31, 2016 |