Spanish Broadcasting System Inc. Outlook Revised To Negative As 2012 Debt Maturities Approach; 'B-' Rating Affirmed Jun 11

Standard & Poors, June 2011

Abstract
U.S. Spanish-language broadcaster Spanish Broadcasting faces refinancing risks surrounding roughly $306 million of debt maturities in June 2012. We are revising our 'B-' rating outlook on the company to negative from stable. The negative outlook reflects the risk regarding the company's need for a comprehensive refinancing by mid-2012, its high debt leverage, ongoing but declining losses at MegaTV, and continued uncertainty in the economy. NEW YORK (Standard & Poor's) June 13, 2011--Standard & Poor's Ratings Services said today it revised its rating outlook on Coconut Grove, Fla.-based Spanish Broadcasting System Inc. (SBS) to negative from stable. We also affirmed our existing ratings on the company, including the 'B-' corporate credit rating. "The outlook revision reflects the nearing maturity of the...

Companies mentioned in this report are: Spanish Broadcasting System Inc.
Action: Outlook: Negative

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Research type: News
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Spanish Broadcasting System Inc.

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