Moody’s affirms Block Communications

Moody’s Investors Service said it affirmed Block Communications, Inc.'s Ba3 corporate family rating and Ba3-PD probability of default rating.

Moody's also affirmed the Baa3 senior secured revolving credit facility rating and affirmed the Ba3 senior unsecured rating.

The outlook remains stable.

“Block's Ba3 corporate family rating is supported by the diversity of the business with four distinct segments including cable, telecommunications, broadcast, and publishing,” the agency said in a news release.

“This is an unusual level of diversity given its small scale, which is unique among its peer group.”

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