Moody's cuts Regent Broadcasting

Moody's Investors Service said it affirmed Regent Broadcasting LLC's probability of default rating of D and downgraded the corporate family rating to Caa3 from Caa1 and senior secured bank credit facility to Caa3 from Caa1.

The outlook is stable.

The downgrades follow its prearranged reorganization filing with the U.S. Bankruptcy Court in the District of Delaware effective March 1. This action concludes a review for possible downgrade that began in January, Moody's said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.