S&P elevates Monitronics, rates loan B-

S&P said it upgraded Monitronics International Inc. to B- from D on the company shedding $845 million of debt and the expected emergence from bankruptcy. The agency also assigned a B- rating to the company’s proposed $882.5 million senior secured loan.

“Our rating on Monitronics reflects the company's improved leverage and lower debt-service needs following the estimated $885 million of debt reduction achieved through the Chapter 11 bankruptcy process,” said S&P in a press release.

The outlook is negative.

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