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BULLETIN:Update on Viacom Inc.'s Debt Guarantees on Westinghouse Electric, Westinghouse Credit Oct 02
Standard & Poors, Oct 2002
Abstract
Standard & Poor's Ratings Services does not view Viacom Inc.'s (A-/Stable/A-2) debt guarantee structure as a significant consideration in its analysis of the risks of asbestos claims that arose from products sold by former Westinghouse Electric Corp. units. Rather, Standard & Poor's takes a consolidated view of the risks and Viacom's financial resources. Standard & Poor's currently views Viacom's insurance, cash flow, and overall financial capacity as more than adequate to address these claims, but will continue to monitor developments with regard to claims resolution and asbestos litigation broadly. The guarantee structure of Viacom Inc. and its units has remained unchanged since its merger with CBS Corp. Viacom Inc. and its Viacom International Inc. subsidiary guarantee each other's debt. Viacom...
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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