Moody’s rates Mediaocean loan B2

Moody’s Investors Service said it assigned a B2 rating to Mediaocean LLC’s proposed first-lien bank credit facilities.

The facilities include a $693 million term loan, which along with cash, the company will use to refinance the company’s existing $293.3 million bank debt, fund a dividend to its private equity owners and pay transaction related fees. The ratings of the existing first-lien term loan and revolver will be withdrawn upon completion of the refinancing, Moody’s said.

Moody’s affirmed the company’s B2 corporate family and B2-PD probability of default rating.

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