Moody’s rates WMG Acquisition loan Ba3

Moody’s Investors Service said it assigned a Ba3 rating to WMG Acquisition Corp.’s proposed senior secured term loan G facility.

“The transaction is leverage neutral since Moody’s expects Acquisition Corp. to use the net proceeds (after transaction costs) to fully repay the existing $814 million senior secured term loan F due 2023. Moody’s views the transaction favorably given the extension of the debt maturity. Upon full extinguishment of the 2023 term loan F facility, Moody’s will withdraw the rating,” the agency said in a press release.

The Ba3 corporate family rating and stable outlook remain unchanged, the agency said.

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