Moody’s assigns WMG Acquisition notes Ba3

Moody’s Investors Service said it assigned Ba3 ratings to WMG Acquisition Corp.’s proposed senior secured notes offering totaling $900 million in aggregate.

The offering will consist of a dollar-denominated and euro-denominated tranche.

Moody’s said it considers the offering to be leverage neutral since the proceeds will be used to repay outstanding notes. Also, the transaction will extend the maturity of the company’s debt.

The stable outlook remains unchanged.

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