ITV to reset interest to 6 1/8% for 7 3/8% notes following upgrade

By Jennifer Chiou

New York, Sept. 11 - ITV plc announced that the interest rate for its 7 3/8% series 2006-1 notes due 2017 will reset to 6 1/8% after Moody's Investors Service upgraded the ratings on all of its senior unsecured debt to Baa3 from Ba1.

The agency announced the upgrade on Aug. 9. ITV's senior unsecured debt is currently rated BBB- by Standard & Poor's.

The reset rate will be in effect beginning Jan. 5.

ITV is a London-based media company.

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