On March 18, 2003, Standard&Poor's Ratings Services assigned its 'B-' rating to Nexstar Finance Holdings LLC's proposed $50 million senior discount notes due in 2013. This debt will be consolidated at Nexstar Holding's parent company television station owner and operator Nexstar Broadcasting Group LLC (Nexstar). Nexstar's consolidated debt also includes debt obligations of Mission Broadcasting that are guaranteed by Nexstar. Proceeds are expected to be used to help fund acquisitions. On a pro forma basis, the transaction is expected to reduce the company's cash interest burden and increase borrowing availability under its bank lines. At the same time, Standard&Poor's affirmed its 'B+' corporate credit ratings on Nexstar Finance Holdings and Nexstar. The outlook is negative. Based
