Moody’s assigns B1 to Getty loans

Moody's Investors Service said it assigned B1 ratings to Getty Images, Inc.'s new $1.38 billion senior secured first-lien credit facilities comprising a $980 million term loan B due 2031 and a €372.3 million term loan B due 2031.

The agency also downgraded the company's $150 million senior secured revolving credit facility due 2028 to B1 from Ba3.

The Ba3 ratings on the outstanding senior secured first-lien term loan B facilities, consisting of the $639.6 million outstanding term loan due 2026 and €419 million outstanding euro term loan due 2026, and B3 rating on the $300 million of 9¾% senior unsecured notes due 2027 have been reviewed in the rating committee and remain unchanged.

The proceeds will be used to fully refinance the outstanding term loan facilities and unsecured notes.

The outlook is stable.

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