New York, July 26, 2016 -- Moody's Investors Service placed Outerwall Inc.'s ("Outerwall") Ba3 Corporate Family rating, Ba3-PD Probability of Default rating and the B1 senior unsecured notes ratings on review for downgrade following the company's announcement that it has entered into an agreement with affiliates of certain funds managed by affiliates of Apollo Global Management, LLC ("Apollo"), pursuant to which Apollo will acquire Outerwall in an all-cash transaction, valued at approximately $1.6 billion (including net debt). Apollo will pay $52 per share in cash for each outstanding share of Outerwall, which represents a premium of around 11% relative to the company's last closing price. Following completion of the transaction, Outerwall will become a privately held company. The rating outlook for Outerwall was changed from negative to ratings under review for downgrade.

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