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Moody's upgrades Entercom ratings

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Moody's upgrades Entercom ratings

Moody'son May 11 upgraded its corporate family rating on to B1from B2.

Additionally,the rating agency raised its probability of default rating on the company to B1-PDfrom B2-PD. Entercom's secured credit facilities were also upgraded to Ba2 fromBa3, while senior unsecured 10.5% notes were upgraded to B3 from Caa1. Theoutlook is stable.

Theratings action reflects Entercom's good free cash flow generation allowing forfurther improvement in credit metrics and improved leverage since Moody's lastrating action at the end of 2011.