Moody's affirms Townsquare Media's B2 CFR and assigns B2 rating to proposed senior secured note; outlook negative
Rating Action: Moody's affirms Townsquare Media's B2 CFR and assigns B2 rating to proposed senior secured note; outlook negative. Global Credit Research- 15 Dec 2020. New York, December 15, 2020-- Moody's Investors Service, affirmed Townsquare Media, Inc.' s B2 Corporate Family Rating and B2-PD Probability of Default Rating and assigned a B2 rating to the proposed senior secured note.Townsquare Media is a holding company. Through its subsidiaries, the company a radio, digital media, entertainment and digital marketing solutions company. The company's brands include local media assets such as WYRK, KLAQ, K2 and NJ101.5; regional and national events such as the Taste of Country Music Festival, WE Fest, Country Jam, the Boise Music Festival, the Red Dirt BBQ & Music Festival and Taste of Fort Collins; and tastemaker music and entertainment websites such as XXLmag.com, TasteofCountry.com and Loudwire.com. The company's radio stations have local companion websites that utilize the station brands and are populated with content created or curated by its local media personalities.
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