New York, January 09, 2015 -- Moody's says changes to New Media Holdings II LLC's (New Media) proposed transaction will not impact the B2 Corporate Family Rating, B3-PD Probability of Default Rating, or the B2 rating assigned to the revolving credit and term loan facility. The originally proposed $170 million add on term loan B will be decreased to $102 million, which is expected to be fungible with the existing $224 million term loan B, and the $25 million revolver will be increased to $75 million. An additional $18 million of Halifax subordinated debt (which will not be rated by Moody's) will remain outstanding and be guaranteed by New Media up to $15 million. The outlook remains stable.

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