Univision Communications, Inc. -- Moody's assigns B2 ratings to Univision's new term loan and revolver

New York, March 02, 2017 -- Moody's Investors Service, ("Moody's") assigned a B2-LGD3 rating to Univision Communications, Inc.'s (Univision or the Company) proposed 7 year, $4.475 billion senior secured term loan due 2024. The proceeds from the offering will be used to retire the company's existing 2020 term loan. In addition, we assigned a B2-LGD3 to a new $850 million revolver due 2022, upsized by $300 million. The transaction is credit positive, as it will extend the maturity date of the revolver and the term loan by four years and lower borrowing costs by approximately 25 bps. The Corporate Family rating and all other instrument level ratings are unchanged. The stable outlook is unchanged.

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