Allen Media Refinances $100 Million Revolving Credit Facility

Allen Media Group refinanced a $100 million revolving credit facility, extending debt maturities to 2027, according to an emailed press statement Monday.

• Byron Allen’s media conglomerate, which owns The Weather Channel and other television stations, had entered into confidential talks with creditors last year, Bloomberg previously reported
• S&P placed all of Allen Media’s ratings on review for downgrade last month
  • The credit grader cited the Feb. 10 maturity date on “the company’s nearly fully drawn $100 million revolving credit facility”
  • Allen Media carries an issuer credit rating of CCC+ by S&P and Caa1 long-term rating by Moody’s, each seven ...