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Moody’s gives Sinclair Television notes B1
Moody's Investors Service said it assigned a B1 rating to Sinclair Television Group, Inc.'s $500 million senior unsecured notes due 2030.
The proceeds will be used to fully redeem Sinclair's $500 million, 6¼% senior unsecured notes due 2022.
Sinclair’s other ratings are unaffected by the notes offering, the agency said.
“Moody's expects the transaction to be marginally credit positive. Sinclair will benefit from a longer maturity profile and some reduction in interest expense, which will slightly improve the company's cash flows,” said Moody’s in a press release.
The outlook is unchanged at stable.
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