CBS Outdoor Americas, Inc. -- Moody's says CBS Outdoor's acquisition of assets from Van Wagner is not expected to impact the CFR rating

New York, July 22, 2014 -- Moody's says CBS Outdoor Americas, Inc.'s (CBS Outdoor) acquisition of outdoor assets from Van Wagner Communications, LLC (Van Wagner) for $690 million is not expected to impact the Ba3 corporate family rating (CFR). We anticipate the acquisition will be funded with cash on the balance sheet and $640 million in new debt and will close in early 2015. The ratings on the company's bank debt (rated Ba1) and senior unsecured notes (rated B1) could be impacted by the type of debt the company eventually issues to raise the $640 million of anticipated new debt.

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