Fitch Ratings affirmed the 'A' rating of Major League Baseball's (MLB) $1.4 billion league-wide revenue-backed securitization facility. The facility is made up of $853 million variable funding notes, $389 million series-1 term notes and $125 million series-2 term notes. The rating outlook is stable.
On Dec. 15, 2008, the trust issued $125 million of series-2 term notes that were used to partially pay down the outstanding $978 million variable funding notes. As a result, the overall leverage of the Trust remains unchanged, Fitch said.