Washington Post Co. 'BBB' Rating Outlook Revised To Stable From Negative; Commerical Paper Upgraded To 'A-2' Sep 13
- Language: English
- Published: September 2013
- Region: Washington
Our ratings for Washington Post Co. remain on CreditWatch with negative implications, despite finalized Department of Education (DoE) regulations that are somewhat less onerous than initially proposed. Deteriorating operating performance at Washington Post Co.'s Kaplan higher education division is negatively affecting revenue and EBITDA. We remain concerned that weaker education segment operating performance trends will continue over the near-to-intermediate term, prompting a reassessment of the company's business fundamentals and earnings potential. On June 16, 2011, Standard & Poor's Ratings Services said that its 'A' long-term corporate credit and senior unsecured ratings, as well as its 'A-1' short-term commercial paper rating, for Washington Post Co. remain on CreditWatch, where it was placed on May 19, 2011, with negative implications. Washington, D.C.-based...
Companies mentioned in this report are: Washington Post Co.
Action: CreditWatch Update
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Product Type: Research Update
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Washington Post Co.