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CBS Corp. 'BBB' Rating Put On Watch Negative; Short-Term Rating Lowered To 'A-3' Apr 09 Product Image

CBS Corp. 'BBB' Rating Put On Watch Negative; Short-Term Rating Lowered To 'A-3' Apr 09

  • Published: April 2009
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) April 6, 2009--Standard & Poor's Ratings Services today placed its long-term ratings on New York City-based CBS Corp., including the 'BBB' corporate credit rating, on CreditWatch with negative implications. At the same time, we lowered our short-term ratings on the company to 'A-3' from 'A-2' and left these ratings on CreditWatch, where they were placed with negative implications on Feb. 11, 2009. "The CreditWatch listing of the long-term ratings reflects our expectation that fully adjusted leverage will rise meaningfully above our 4x threshold at the current rating level in 2009," said Standard & Poor's credit analyst Michael Altberg. "Our concern is most focused on local advertising weakness that has compounded adverse secular trends that have...

Companies mentioned in this report are: CBS Corp.
Action: Downgraded
Action: On CreditWatch: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 READ MORE >

CBS Corp.

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