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Moody's Investor Services has assigned an extremely unfavorable rating to the Clear Channel Media's proposed $1.5 billion term loan--a loan which would push some of Clear Channel's debt back another 2 years.
The rating of Caa1 is defined as "Rated as poor quality and very high credit risk"
Standard and Poor's shares Moody's concern:
"We believe there is considerable uncertainty surrounding the sustainability of the company's existing capital structure, given its sizable debt burden and significant refinancing risk."
Clear Channel is struggling to avoid bankruptcy, faced with $10 billion in debt due in 2016. That's the same year right wing radio host Rush Limbaugh's $400 million contract will be up for renewal.

Limbaugh has contributed to Clear Channel's financial decline, with his 2012 attacks on Sandra Fluke kicking off a highly successful movement to relieve him of his advertising base led by groups like the Flush Rush Facebook community.

Earlier this year, Clear Channel reported losses of $424 million for 2012. The media company has been firing employees throughout the past year in an effort to stop the hemorrhaging, to no avail. And Chairman of the Board Mark Mays announced his impending resignation.

So far, Clear Channel has stood by Rush Limbaugh, but last week Cumulus Media--which airs his show on 40 stations--began signaling it is considering moving on without the struggling radio host.

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Originally posted by MAL4PREZ:
Poor Rush. How will he buy all his pills?

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