Moody’s puts Endemol Shine under review for upgrade

Moody’s Investors Service said it placed under review for upgrade the Caa1 corporate family rating and the Caa1-PD probability of default rating of MediArena Acquisition BV, the owner of Endemol Shine Group following Banijay Group SAS’ announcement that is has entered into a pact to acquire 100% of Endemol Shine.

Moody’s also placed under review for upgrade the B3 instrument ratings on the £50 million, $910 million and €260 million first-lien senior secured term loans due 2021 and the €125 million first-lien senior secured multicurrency revolving credit facility due 2021.

The Caa3 rating on the $457 million second-lien term loan due 2022 also is under review for upgrade.

“The review for upgrade on ESG’s ratings reflects the fact that if the transaction concludes successfully the company will become part of a larger group with a stronger credit profile,” said Víctor García Capdevila, a Moody’s lead analyst for ESG, in a press release.

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