Moody’s: EMI Music unaffected by acquisition

Moody's Investors Service said EMI Music Publishing's (the trade for MTL Publishing LLC) B1 corporate family rating, existing debt ratings and stable outlook are not immediately affected by the May 22 announcement that Sony Corp. (Baa2 stable) via its wholly owned subsidiary, Sony Corp. of America, agreed to purchase a 60% equity stake in the company for $2.3 billion (includes the cost for stock warrants and management incentives) to become EMI Music Publishing's controlling shareholder.

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