U.S. radio broadcaster Beasley Broadcast Group Inc. repaid $43 million of debt in the first half of 2017. We are affirming our 'B+' corporate credit rating on Beasley and its subsidiary Beasley Mezzanine Holdings LLC. We are also raising our issue-level rating on Beasley Mezzanine's senior secured debt to 'BB-' from 'B+' and revising the recovery rating to '2' from '3'. The stable rating outlook reflects our expectation that Beasley will maintain adequate liquidity over the next year, with pro forma adjusted leverage remaining in the mid-4x area. On Sept. 25, 2017, S&P Global Ratings affirmed its 'B+' corporate credit ratings on Naples, Fla.-based Beasley Broadcast Group Inc. and its subsidiary Beasley Mezzanine Holdings LLC. The rating outlook is stable.
