SiTV, LLC. -- Moody's assigns B3 CFR to Nuvo, B3 to proposed secured notes

New York, June 12, 2014 -- Moody's Investors Services assigned a B3 Corporate Family Rating and a B3-PD Probability of Default Rating to SiTV, LLC (Nuvo) and a B3 rating to its proposed $230 million of senior secured bonds. The company plans to use proceeds, together with a cash advance from DISH Network, LLC, to fund the announced $226 million acquisition of Fuse Network (Fuse) from The Madison Square Garden Company (MSG), to repay existing debt, and to provide some cash to its balance sheet. MSG will also receive 15 percent equity of the combined company (subject to potential reduction based on certain performance goals) and gain a seat on the SiTV Media, Inc. (parent of SiTV, LLC) Board of Directors.

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