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CMP Susquehanna Radio Holdings Corp. Ratings Raised And Kept On CreditWatch Positive
Standard & Poors, April 2011
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
CMP's credit metrics, which have improved over the last year, could improve further if Cumulus Media Inc. successfully merges with Citadel Broadcasting. We are raising our corporate credit rating on CMP Susquehanna Radio Holdings Inc. to 'B' from 'B-'. The rating remains on CreditWatch, where it was placed with positive implications on Feb. 18, 2011. Our issue-level ratings on the company's debt were also raised by one notch and were removed from CreditWatch. The corresponding recovery ratings remain unchanged. The positive CreditWatch listing reflects our expectation that the merger transaction will be deleveraging. CHICAGO (Standard & Poor's) April 25, 2011--Standard & Poor's Ratings Services said today it raised its corporate credit rating on Atlanta-based CMP Susquehanna Radio Holdings Corp. to...
Companies mentioned in this report are: CMP Susquehanna Radio Holdings Corp.
Action: On CreditWatch:Positive
CMP Susquehanna Radio Holdings Corp.