New York, July 08, 2015 -- Moody's Investors Service assigned Ba1, LGD3 to TEGNA Inc.'s ("TEGNA") extended $1.32 billion sr unsecured revolving credit facility and new $200 million sr unsecured term loan. The company's recently announced amendment to the credit facilities extended the maturity of the senior unsecured revolver and term loan each to June 2020 from 2018. Additional revisions included relaxing the maximum total leverage covenant to 5.0x (as defined) with step-downs beginning in September 2017. The amendment and extension of the revolver facility is credit positive, but there is no immediate impact on debt ratings of the company. The existing Ba1 corporate family rating, Ba1-PD probability of default rating, and Ba1 senior unsecured debt ratings remain unchanged. The outlook remains negative.

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