Global Defense Suppliers' Outlook Survey 2012-2013: Industry Dynamics, Market Trends and Opportunities, Expenditure and Marketing Strategies
- Published: May 2012
We expect U.S.-based diversified media company Media General's credit metrics and discretionary cash flow to deteriorate over the intermediate term because of declining publishing revenue and the absence of meaningful political advertising. We are revising our outlook on the rating to negative from stable. The negative outlook reflects our expectation that declining EBITDA and tightening covenants could lead to a covenant violation in 2012. CHICAGO (Standard & Poor's) June 9, 2011--Standard & Poor's Ratings Services said today it revised its outlook on Richmond, Va.-headquartered Media General Inc.'s 'B-' rating to negative from stable. The outlook change reflects our expectation that Media General could face difficulties in maintaining covenant compliance in 2012 due to the absence of meaningful election revenues and...
Companies mentioned in this report are: Media General Inc.
Action: CreditWatch Update
Action: Outlook: Negative
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.
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Media General Inc.
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