Consolidated Fears Losing RDOF Funding Over Bank’s Low Rating

Wells Fargo’s Weiss bank safety rating fell to C+ for Consolidated, one notch below the minimum B- rating required.

Consolidated Fears Losing RDOF Funding Over Bank’s Low Rating
Photo from JC-TC

WASHINGTON, January 20, 2024 – Consolidated Communications fears it could get cut off from a federal broadband subsidy program because the safety rating of its bank has fallen below an acceptable level.

Consolidated, based in Mattoon, Il., obtained a required letter of credit from Wells Fargo bank under Federal Communications Commission’s rules.

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