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DHX Media Ltd. -- Moody's affirms DHX Media's B2 rating, maintains stable outlook

Moody's Investors Service (Moody's) affirmed DHX Media Ltd.'s (DHX) B2 corporate family rating, B2-PD probability of default rating, B2 senior secured credit facilities ratings and SGL-3 speculative grade liquidity rating, while also maintaining the company's stable ratings outlook. "We affirmed DHX's ratings because the Peanuts/Sony transaction shares the risks and cash flow related to the Peanuts property while simultaneously reducing debt. Moody's estimates that company-defined March 31 2018 leverage, pro forma for the pay-down from the partial Peanuts divesture, is about 4.7x.