The Faraday rotation spectra between 1.5 eV and 2.4 eV are examined for thin films of the hexagonal ferrite , prepared by pulsed laser deposition. Fine spectral detail is observed at 24 K between 1.69 eV and 1.85 eV. A sharp paramagnetic transition at 1.69 eV, with an oscillator strength of , is assigned to the crystal field transition originating on the octahedrally coordinated site. Somewhat weaker diamagnetic transitions above 1.73 eV are tentatively assigned to first-excited-state transitions in the 2b trigonal bipyramidal site. A broader feature with an extremum at 2.23 eV is considered to originate from the transition in tetrahedral sites.