EFTA Document EFTA01385360

3 January 2018 HY Corporate Credit HY Multi Sector.Media. Cable & Satellite exception, as the company felt it was appropriate to reinstate marketing programs at a slower pace. That been said, we believe that the impact from these tragic events will be modest in 2018. With this report, we are reaffirming our BUY rating on the 4.625% Senior Unsecured Notes 2026 ($101.3, 4.4% YTVV, 207bps STVV). We continue to believe that these bonds are attractive on a relative value basis. [Exhibit 4: M