Moody's: Getty loans B1, notes Caa1

Moody's Investors Service said it downgraded Getty Images, Inc.'s corporate family rating two notches to B2 from Ba3 and the probability of default rating to B2 from B1.

Moody's also assigned B1 LGD3-38% ratings each to the proposed $150 million first-lien senior secured revolver and $1,900 million first-lien senior secured term loan as well as a Caa1, LGD6-90% rating to the proposed senior unsecured notes.

The outlook remains stable.

The new debt instruments are being issued to fund the acquisition of the parent of Getty Images by an affiliate of the Carlyle Group, the agency said.

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