Moody's rates Hemisphere loans B2

Moody's Investors Service said it affirmed Hemisphere Media Holdings, LLC's B2 corporate family rating, B2-PD probability of default rating and B2 rating on the company's senior secured term loan.

Concurrently, Moody's assigned a B2 rating to the company's new $30 million revolving credit facility and $50 million incremental term loan.

Moody's also maintained Hemisphere's speculative grade liquidity rating at SGL-1. The outlook is stable.

The affirmation of Hemisphere's ratings reflects Moody's expectation that the company will be able to bring leverage back to near 5x in the next 12 to 18 months following the close of the company's acquisition of the remaining 75% ownership stake in Pantaya, LLC from Lions Gate Entertainment, Inc.

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