CBS Corp. (Formerly Viacom) Rating Cut, Off Watch As New Viacom Takes Cable Networks, Film Jan 06
- ID: 1823023
- January 2006
- Standard & Poors
NEW YORK (Standard & Poor's) Jan. 3, 2006--Standard & Poor's Ratings Services said today that it lowered its ratings on CBS Corp. (formerly Viacom Inc.) to 'BBB' from 'BBB+' and affirmed the short-term rating of 'A-2' on CBS, and removed all ratings from CreditWatch, where they were placed with negative implications on March 16, 2005. The rating action was based on the Dec. 31, 2005, completion of the split-off of Viacom's cable TV and feature film production operations into the new Viacom Inc. The outlook is stable. With the completion of the separation of the new Viacom, CBS Corp. received a one-time dividend from the new Viacom, which was anticipated to be approximately $4.8 billion, according to old Viacom's amended...
Companies mentioned in this report are:
- CBS Corp.
Action: Outlook: Stable
Action: Removed From CreditWatch
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Research type: News
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