Moody's rates Monitronics notes Caa1

Moody's Investors Service said it affirmed the Ba3 rating on the proposed upsized $225 million first-lien revolver and $916 million term loan offered by Monitronics International, Inc.

At the same time, Moody's assigned a Caa1 rating to the proposed $150 million add-on to the senior unsecured notes due 2020.

The agency affirmed Monitronics' B2 corporate family rating and maintained the stable ratings outlook.

Proceeds from the incremental term loan and notes, along with an intercompany loan and an equity contribution from parent Ascent Capital Group, Inc., will be used to finance the acquisition of Security Networks, LLC and repay about $20 million of borrowings on the revolver.

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