Moody’s rates TiVo Ba3, stable

Moody's Investors Service said it assigned TiVo Corp. a Ba3 corporate family rating, a Ba3-PD probability of default rating and an SGL-2 speculative grade liquidity rating.

These ratings were previously assigned to Rovi Corp., which became a subsidiary of TiVo after the consummation of a merger.

Rovi's ratings and negative outlook were withdrawn. Moody's also affirmed Rovi Solutions Corp.’s and Rovi Guides, Inc.'s Ba2 senior secured term loan B rating.

TiVo's outlook is stable.

Moody’s said the outlook change to stable reflects TiVo's progress in securing contract renewals, continued growth in cash and investment balances in 2016 and progress with the merger integration and realization of cost synergies.

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