|
|
 |
|
Viewing report
|
|
|
|
BULLETIN: CBS Corp. Rating Unaffected By Dividend Increase, Theme Parks Divestiture Plan Jan 06
Standard & Poors, Jan 2006
Abstract
NEW YORK (Standard & Poor's) Jan. 27, 2006--Standard & Poor's Rating Services said that its 'BBB' corporate credit rating, issue ratings, and stable outlook on CBS Corp. are not affected by CBS Corp.'s announcement that it will raise its dividend. The dividend is to be raised to an annual amount of roughly $470 million, from the roughly $450 million that we had expected. Although the increase raises the payout to nearly 15% of EBITDA (based on EBITDA of $3.275 billion pro forma for the 12 months ended June 30, 2005) from the roughly 13% that we had previously expected, the company currently has more than adequate liquidity, before the imminent maturity of $800 million of debt. We view the resulting...
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.
|
|
|
|
