On Jan. 30, 2003, Standard&Poor's Ratings Services assigned its 'B+' rating to Nexstar Finance LLC's proposed $170 million senior credit facilities and Mission Broadcasting Inc.'s $85 million senior credit facilities. This debt will be consolidated at television station owner and operator Nexstar Broadcasting Group LLC. Nexstar's consolidated debt includes debt obligations of Mission Broadcasting that are guaranteed by Nexstar. Proceeds are expected to be used to refinance existing debt and help fund the acquisition of four new television stations for an aggregate purchase price of approximately $100 million. At the same, Standard&Poor's affirmed all its existing ratings on Nexstar. The outlook is negative. Based in Irving, Texas, Nexstar had total debt outstanding of approximately $294.2 million
