Moody’s rates Quincy loans B2, Ba2

Moody's Investors Service said it assigned a B2 rating to Quincy Media, Inc.'s new $85 million term loan A due November 2022 and Ba2 rating to the company's senior secured revolving credit facility, the maturity of which has been extended by two years as part of the current financing transaction.

The company will use the new term loan to fund the acquisition of KVOA, which is expected to close within the first quarter of 2019 for about $70 million.

Quincy's B2 corporate family rating, B2-PD probability of default rating and B2 ratings on the company's existing senior secured first-lien term loan are unchanged.

The outlook is stable.

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