Moody's ups Crown Media

Moody's Investors Service said it upgraded Crown Media Holdings, Inc.'s speculative-grade liquidity rating to SGL-2 from SGL-3.

The agency said the upgrade reflects the company's prepayment of required amortization through the July 2018 maturity of the term loan and considerable cushion built within its financial maintenance covenants due to growth in advertising revenue and EBITDA.

Crown Media's B2 corporate family rating and stable outlook are not affected.

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