Summary: RBS Comunica??es S.A. e empresas combinadas

Standard & Poors, May 2011

Abstract
The ratings on Brazil-based media group RBS Comunica--es S.A. e empresas combinadas (RBS) reflect the company's challenges to improve its business profile, which we currently assess as fair. The declining growth trend in advertising spending and number of subscribers in newspaper, limited growth potential in its covered area for TV broadcasting, and the limited scope of its radio business constrain its business profile. To grow, we believe the company will invest in alternative media, such as Internet, which we view as more volatile and risky and could potentially hurt its profitability and intermediate cash flow metrics. Partly offsetting the negatives are the company's leading market position in the southern region of Brazil in the newspaper, TV broadcasting, and radio business...

Companies mentioned in this report are: RBS Comunicacoes S.A.e empresas combinadas
Action: Review

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

RBS Comunicacoes S.A.e empresas combinadas

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