- SFX Entertainment (NASDAQ:SFXE) is up 4.2% after Moody's pronounces its $60M preferred share issue credit positive.
- The move means the company has access to much needed additional funding, the rater says, but it doesn't have outlook implications as future cash flow needs are uncertain.
- The company's approaching an Oct. 2 deadline to gauge sale interest after the failure of CEO Robert Sillerman's go-private offer.
- Moody's had downgraded the company's rating by two notches late last month after it saw "no tangible signs of operations becoming cash flow positive."
- Previously: SFX Entertainment up 22% on $90M in new financing (Sep. 17 2015)
- Previously: SFX Entertainment slides 33% after note on cash outlays (Sep. 02 2015)
- Previously: Moody's downgrades SFX Entertainment on weak liquidity (Aug. 26 2015)