Moody’s assigns Ba2 to GCI loans

Moody's Investors Service said it assigned a Ba2 rating to GCI, Inc.'s proposed $275 million senior secured term loan and raised the speculative grade liquidity rating to SGL-1 from SGL-2.

The agency also assigned Ba2 ratings to the company's existing senior secured term loan due 2018 and existing $150 million senior secured revolver due 2018.

Concurrently, Moody's affirmed the company's B2 corporate family rating, B2-PD probability of default rating and the B3 rating on the company's senior unsecured notes.

The outlook is positive.

Proceeds from the term loan B will be used to support the company's acquisition of the remaining one-third interest in the Alaska Wireless Network for $300 million.

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