-- New York City-based television and radio broadcaster CBS Corp. proposed a senior unsecured debt offering for five- and 10-year bonds. -- We assigned the notes our 'BBB' rating and placed it on CreditWatch with negative implications along with our other ratings for the company. -- The continued CreditWatch listing reflects our expectation that fully adjusted leverage will rise to more than 5x in 2009. NEW YORK (Standard & Poor's) May 8, 2009--Standard & Poor's Rating Services today assigned its 'BBB' rating to CBS Corp.'s proposed senior unsecured notes issues due 2014 and 2019. At the same time, we placed the rating on CreditWatch with negative implications along with our other ratings on the company. The company plans to use...
Companies mentioned in this report are:
- CBS Corp.
Action: CreditWatch Update
Action: New Rating
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.