Fitch Ratings assigned A- ratings to NBA subsidiary Hardwood Funding's three series of senior secured notes totaling $254M. Fitch also affirmed the outstanding debt instruments of the NBA -- including the league line credit facilities, along with all series of Hardwood Funding's senior secured notes and Basketball Funding's secured revolving credit facility -- also at A-. The rating outlook for all debt is deemed "stable." This reflects the NBA's overall financial position, supported by its broadcast contracts and its core economic model. Fitch believes league's viewership and attendance trends, coupled with global growth, signify a strengthening position among pro sports leagues (Fitch Ratings).
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