Moody's assigns a Ba3 rating to CBS Radio's new term loan; outlook stable
New York, February 22, 2017-- Moody's Investors Service assigned CBS Radio Inc.' s proposed $500 million term loan B-1 a Ba3 rating and affirmed the B1 corporate family rating. The existing revolver and term loan ratings were affirmed at Ba3 and the senior notes were affirmed at B3. The proceeds of the proposed term loan will be used to repay the existing term loan and redeem preferred stock at Entercom Communications Corp. upon completion of the merger between CBS Radio and...
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