Moody's assigns Ba1 to Outfront notes

Moody's Investors Service said it assigned a Ba1 rating to the planned $400 million of backed senior secured notes due 2031 of Outfront Media Capital LLC, a subsidiary of Outfront Media Inc.

The agency affirmed Outfront's B1 corporate family rating, B1-PD probability of default rating, the Ba1 senior secured bank credit facility rating, B2 backed senior unsecured notes rating and B2 senior unsecured notes rating of Outfront Media Capital were also affirmed.

The proceeds will be used to refinance the company's unsecured senior notes maturing in 2025. “The transaction is expected to be leverage neutral,” Moody’s said in a press release.

The outlook remains stable.

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