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Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Monitronics International, Inc.Global Credit Research - 14 Dec 2021New York, December 14, 2021 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Monitronics International, Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review discussion held on 7 December 2021 in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology (ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. The review did not involve a rating committee. Since 1 January 2019, Moody's practice has been to issue a press release following each periodic review to announce its completion.This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future. Credit ratings and outlook/review status cannot be changed in a portfolio review and hence are not impacted by this announcement. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history.Key rating considerations are summarized below.Monitronics' credit ratings reflect liquidity challenges in 2021 and 2022 for 3G telecom platform conversions and earnout payments to sellers for bulk purchases of subscriber contracts. Monitronics faces these hurdles while it continues the transition from an all-dealer network to a hybrid sales model employing both dealer and direct-to-consumer ("DTC") channels. Moody's expects moderately improving credit metrics and operating performance, including revenue stabilization. Liquidity, which we view as adequate, is supported by the standard industry assumption that an alarm monitor can curtail its subscriber acquisition programs if needed to free up funds.This document summarizes Moody's view as of the publication date and will not be updated until the next periodic review announcement, which will incorporate material changes in credit circumstances (if any) during the intervening period.The principal methodology used for this review was Business and Consumer Services published in November 2021. Please see the Rating Methodologies page on www.moodys.com for a copy of this methodology.This announcement applies only to EU rated, UK rated, EU endorsed and UK endorsed ratings. Non EU rated, non UK rated, non EU endorsed and non UK endorsed ratings may be referenced above to the extent necessary, if they are part of the same analytical unit.This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history. Kevin Stuebe Vice President - Senior Analyst Corporate Finance Group Moody's Investors Service, Inc. 250 Greenwich Street New York, NY 10007 U.S.A. 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