SourceMedia Debt Refinancing Provides Capital for Growth

NEW YORK, Feb. 8, 2011 /PRNewswire/ -- SourceMedia, a business-to-business media company serving the financial services industry, has completed a successful debt refinancing that provides the company with additional growth capital. SourceMedia is a portfolio company of alternative asset management firm Investcorp.

The refinancing reflects the improved financial performance of SourceMedia and of its affiliate company Accuity. This performance has also led to ratings upgrades from Moody's Investors Service and Standard & Poor's. The ratings are a measure of the investment quality of the company's debt, and are based on a variety of factors, including financial strength, strategy, and growth trajectory.

"We are delighted with the outcome of the refinancing process," said Douglas J. Manoni, SourceMedia's Chief Executive Officer. "It provides us with the ability to accelerate our growth through acquisition, as strategic opportunities arise."  

The improvements in SourceMedia's financial picture support the company's continuing transformation, through both organic growth and acquisition initiatives, into a diversified information company that serves its markets through a comprehensive range of media.

Standard & Poor's raised SourceMedia's debt rating to B+ and its corporate rating to B, with a positive CreditWatch status. Moody's lifted both the company's debt and corporate ratings to B1, with a stable outlook.

About SourceMedia

SourceMedia, an Investcorp company, is a business to business media company serving the financial industry and the related fields of professional services and technology. SourceMedia offers its clients and subscribers professional information services – both print and digital – industry-standard data applications, in-depth seminars and conferences, and specialized marketing services.

SOURCE SourceMedia