Moody's assigns Creative Artists loan B2

Moody's Investors Service said it assigned a B2 rating to Creative Artists Agency, LLC's (CAA) new term loan B-2.

The B2 corporate family rating, B2 rating on the outstanding credit facility, and stable outlook remain unchanged, the agency said.

CAA will use the proceeds to help buy International Creative Management LLC.

Pro forma leverage is unchanged (5.2x as of March 31, 2022, including Moody's standard adjustments) as a result of the transaction. The ICM purchase will be complementary to CAA's motion picture, television, and sports divisions, while expanding publishing services. CAA will also have a larger market position in European soccer representation following the acquisition which Moody's expects will increase international growth opportunities going forward,” the agency said in a press release.

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