Lionsgate (LGF) to Suspend Dividend; Cites Anticipated Starz Merger
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Lionsgate (LGF) Ratings Affirmed by Moody's; Outlook Stable
September 23, 2016 3:16 PM EDTMoody's Investors Service confirmed Lions Gate Entertainment Corp.'s (NYSE: LGF) Ba3 Corporate Family rating (CFR) and Ba3-PD Probability of Default rating following the company's announcement earlier this year to acquire Starz, LLC ("Starz") for cash and stock. Concurrently, Moody's assigned a Ba2 rating to the company's new first lien senior secured credit facility, consisting of a $1 billion revolver due 2021, $1 billion term loan A due 2021 and a $1.9 billion term loan B due 2023. Moody's also changed the company's Speculative Grade Liquidity rating from SGL-3 to SGL-1. The rating outlook was revised from ratings under... More
