Moody’s changes ALM Media view

Moody's Investors Service said it affirmed ALM Media, LLC's B3 corporate family rating and a B3-PD probability of default rating and revised the company's outlook to negative due to the near-term maturity of its first-lien credit facilities.

Moody's also affirmed the B2 rating on the first-lien senior secured credit facilities and the Caa2 rating on the second-lien term loan.

The agency said the corporate family rating reflects an expectation of the company's leverage remaining near 5x as ALM expands its Law.com branded site globally and expands its large scale branded events.

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