Moody's hikes Entercom notes to Ba2

Moody's Investors Service said it upgraded the senior implied rating for Entercom Radio LLC to Ba1 from Ba2 and the senior subordinated notes rating to Ba2 from Ba3. The outlook is stable.

Moody's upgraded Entercom's $150 million senior subordinated notes due 2014 to Ba2 from Ba3, senior implied rating to Ba1 from Ba2 and the senior unsecured issuer rating to Ba2 from B1.

Moody's said the upgrade reflects the company's modest leverage and strong interest coverage and credit metrics that have been maintained over time, despite acquisition activity and notwithstanding more aggressive debt financing assumptions.

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