Moody's affirms LBI

Moody's Investors Service said it affirmed LBI Media, Inc.'s B2 corporate family rating and its probability of default rating.

In addition, Moody's affirmed the Ba2 ratings for LBI's $270 million senior secured credit facilities ($150 million revolving credit facility due 2012, $120 million term loan facility due 2012) and the B3 rating for the company's $229 million senior subordinated notes due 2017.

The outlook has been revised to negative from stable.

The negative outlook reflects Moody's concerns that the current economic downturn and pullback in advertising spend will affect LBI's revenue and cash flow in the near term despite its focus on the Hispanic audiences.

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