Moody’s affirms WME on loan add-on

Moody's Investors Service said it affirmed WME IMG, LLC's existing B2 corporate family rating following the proposed $250 million add-on term loan.

The first-lien credit facility was affirmed at B1 and the second-lien term loan was affirmed at Caa1.

The outlook remains stable.

The $250 million add-on term loan, in addition to cash from the balance sheet and recent equity raised, is expected to be used to make acquisitions or investments either inside or outside the restricted group. In either scenario, the restricted group is expected to receive a minimum of $25 million in additional annual EBITDA going forward, Moody’s said.

The add-on term loan is expected to be fungible with the existing first-lien term loan.

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