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BULLETIN: Viacom Inc.'s Asbestos Liabilities Not a Burden on Ratings Dec 01
Standard & Poors, Dec 2001
Abstract
NEW YORK (Standard & Poor's) Dec. 17, 2001--Standard & Poor's said today that it remains comfortable at this time with Viacom Inc.'s (A-/Stable/A-2) management of its asbestos liabilities. Standard & Poor's continues to monitor broader developments in asbestos litigation. Viacom has not experienced any noticeable increase in the cost of settling its claims, and its insurance coverage continues to cover the majority of these outlays on a timely basis. Even with the recent fluctuations in the number of unresolved claims, Viacom's net cash payments remain an extremely small proportion of its net cash flow after capital expenditures. The number of pending unresolved claims dropped from 140,872 at Sept. 30, 2000, to 99,590 at Dec. 31, 2000, and subsequently rose to...
Companies mentioned in this report are: CBS Corp.
Action: S&P Event
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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