Moody's: No change to Zuffa

Moody's Investors Service said that Zuffa, LLC's technical default will not impact its Ba3 corporate family rating.

According to Moody's, the default was a result of an omission of recording an accrued liability for contingent future obligations related to the company's employee incentive plan. This amounted to the company's past financial statements not being prepared in accordance with generally accepted accounting principles and hence not in compliance with its loan agreement for a short period, the agency said.

Moody's said it expects the omission to be cured quickly through the restatement of Zuffa's financial statements.

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