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iHeartCommunications, Inc. -- Moody's assigns iHeartCommunications a B2 CFR upon projected exit from Bankruptcy; outlook stable

Moody's Investors Service (Moody's) assigned iHeartCommunications, Inc.'s (iHeart) a B2 corporate family rating (CFR), B1 senior secured term loan, B1 senior secured note, and Caa1 senior unsecured note rating. The probability of default rating was assigned at B2-PD. Upon exit from bankruptcy, iHeart will operate its broadcast radio and digital music services and separate from Clear Channel Outdoor Holdings, Inc. (Clear Channel Outdoor).