Moody's: QVC, Liberty Media unchanged

Moody's Investors Service said QVC, Inc.'s refinancing of its credit facilities does not affect the company's Ba2 corporate family rating, Ba3 probability of default rating, Ba2 (LGD3) senior secured bond ratings or stable outlook. Parent company Liberty Media LLC's ratings, which are on review for downgrade, were also unaffected.

In connection with the refinancing, QVC's existing credit facilities were repaid and Moody's updated the loss-given-default point estimates on QVC's senior secured bonds to 37% from 35% to reflect a change in the collateral package.

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