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BULLETIN: Departure Of Viacom Inc. CFO To Have No Immediate Effect On Rating Or Outlook Feb 05
Standard & Poors, Feb 2005
Abstract
NEW YORK (Standard & Poor's) Feb. 2, 2005-- Standard & Poor's Ratings Services said today that the departure of Richard Bressler, CFO of Viacom Inc. (A-/Negative/A-2; see press release dated Jan. 13, 2005), has no immediate effect on the company's rating or outlook. The negative outlook already incorporates Viacom's potential shift toward less conservative financial policies. Still, senior financial management turnover, coupled with Chairman and CEO Sumner Redstone's statement that a 'BBB' category rating level might give the company the latitude to pursue a broader agenda for growth and shareholder returns, does heighten concerns about whether the company is reconsidering its previous commitment to maintaining an 'A-' rating. Viacom has more than $5 billion of debt capacity at the current...
Companies mentioned in this report are: CBS Corp.
Action: Bulletin
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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