Form 8-K Activision Blizzard, For: Nov 02
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Moody's Upgrades Activision Blizzard's (ATVI) Unsecured Notes Rating to 'Baa3' Amid Move to Acquire King
November 3, 2015 6:54 AM ESTMoody's Investors Service upgraded Activision Blizzard, Inc.'s (Nasdaq: ATVI) senior unsecured notes rating to Baa3 from Ba2, upgraded the company's senior secured credit facilities to Baa2 from Baa3, and withdrew the company's Ba1 Corporate Family Rating and Ba1-PD probability of default rating. The upgrade reflects Activision Blizzard's leading position in the growing and fragmented gaming industry, strong diversification across multiple genres and gaming platforms, and strong track record of developing profitable and sustainable franchises with international appeal. The upgrade occurs at the same time the company has announced its agreement to acquire... More
