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Moody's: NBCUniversal unchanged
Moody's Investors Service said that NBCUniversal Media, LLC's (Baa2/stable) purchase of Blackstone Capital Partners' 50% equity interest in Universal City Development Partners Ltd. (B1/ review for upgrade) would not impact NBC's credit ratings.
The purchase price of $1.025 billion will be financed using NBC's available cash on hand, borrowings under NBC's existing revolver and a $400 million subordinated loan from Comcast Corp. (Baa1 senior unsecured).
The transaction could result in a range of potential debt capital structures, leverage and rating outcomes for Universal Orlando and NBC over the next 12 months, the agency said.
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