Fitch gives Hardwood notes A-

Fitch Ratings said it gave A- ratings to Hardwood Funding, LLC's four series of senior secured notes funding on Monday. These include $60 million of series VV, $93.5 million of series WW, $20.8 million of series XX and $18.9 million of series YY, for a total of $193.2 million.

“The ratings reflect the NBA's current stable financial position, including new borrowings, supported by the strength of the league's national media rights contracts,” Fitch said in a press release.

The outlook is stable.

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