Viacom, CBS Ratings Raised and Removed From CreditWatch After Closing of Merger May 00
- ID: 1823746
- May 2000
- Standard & Poors
NEW YORK (Standard & Poor's CreditWire) May 4, 2000--Standard & Poor's today raised its ratings for Viacom Inc. and CBS Corp. and units as listed below. The ratings are removed from CreditWatch, where they were placed Sept. 7, 1999 on the announcement of Viacom's agreement to merge with CBS in a stock-based transaction. The merger has been completed as anticipated, with Viacom as the surviving entity. The corporate credit rating for Viacom is now triple-'B'-plus. The corporate credit rating for CBS Corp. has been withdrawn. In addition, Standard & Poor's assigned its 'A-2' commercial paper rating to Viacom's 4(2) commercial paper program. The outlook on the combined company is stable. The Viacom-CBS combination results in a much stronger business profile,...
Companies mentioned in this report are:
- CBS Corp.
- CBS Broadcasting Inc.
- CBS Operations Inc.
- CBS Corp.
- Infinity Broadcasting Corp.
- Paramount Communications Inc.
- Outdoor Systems Inc.
- American Radio Systems Corp.
Action: Upgraded, Off CreditWatch
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Research type: News
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