Fitch rates Major League Baseball notes A-

Fitch Ratings said it assigned an A- rating to Major League Baseball Facility Fund, LLC's $120 million senior secured term notes.

Fitch also said it maintained the A ratings on the MLB Trust Securitization's outstanding $1.13 billion senior secured revolving credit facility and $1.12 billion outstanding term notes, along with the A- rating on a $50.5 million secured revolving loan under the MLB Fund.

The outlook is stable.

The ratings reflect MLB's core underlying business fundamentals, including its unique operating model and environment and long history of individual and corporate support, Fitch said.

Television contracts, renewed in 2012 at extremely favorable levels, and other pledged revenues produce near-term projected leverage about 1.9x for the MLB Trust debt and 3.7x consolidated for the MLB Facility Fund debt, the agency said.

Despite the discretionary spending nature of sports, MLB clubs have maintained solid attendance levels and corporate support at their respective facilities, Fitch said.

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