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Spanish Broadcasting System Inc. Outlook Revised To Negative As 2012 Debt Maturities Approach; 'B-' Rating Affirmed Jun 11
Standard & Poors, June 2011
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
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.
Spanish Broadcasting System Inc.