Fitch gives Red Ventures loan BB

Fitch Ratings said it assigned a BB/RR2 rating to Red Ventures Holdco LP’s new $400 million non-fungible incremental term loan, which is co-borrowed by Red Ventures, LLC and New Imagitas, Inc.

Proceeds will be used to fund the acquisition of CNET Media Group.

The incremental term loan will have terms substantially similar to the outstanding senior secured term loan. “As anticipated, the $400 million term loan does not materially change Fitch’s expectations for recovery on the senior secured debt and has been assigned the same rating as the existing senior secured debt,” Fitch said in a press release.

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