Moody's Ratings appends /LD to iHeart's Caa1-PD PDR following distressed debt exchanges; confirms Caa1 CFR post close, assigns Caa1 to new first lien term loan and notes, Caa3 to new second lien notes and changes outlook to stable
Moody's Ratings (Moody's) confirmed iHeartCommunications, Inc.'s (iHeart) Caa1 Corporate Family Rating (CFR) following the closing of the debt exchange transaction. Concurrently, we confirmed the Caa1-PD Probability of Default Rating (PDR) and appended a limited default (LD) designation, changing it...
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