408 Ratings On 249 U.S. RMBS Deals Lowered To 'D (sf)'; Five Ratings Placed On CreditWatch Negative Jan 12
- Language: English
- Published: January 2012
- Region: United States
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: 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 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
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- CBS Corp.