CC Media Holdings 'CCC+' Rating Outlook Revised To Negative From Positive Dec 11

Standard & Poors, December 2011

Abstract
Ad demand has slowed in the fourth quarter of 2011 in radio and outdoor, which we believe will continue in 2012 due to the weak global economy. In our view, such slower growth heightens refinancing risk surrounding U.S.-based radio broadcaster and outdoor ad provider CC Media's formidable debt maturities in 2014 and 2016. We are revising our 'CCC+' rating outlook on the company to negative from positive. The negative outlook reflects our expectation that softening ad demand and global economic uncertainty could slow the pace of revenue growth over the next few years. NEW YORK (Standard & Poor's) Dec. 13, 2011--Standard & Poor's Ratings Services today revised its rating outlook on San Antonio, Texas-based CC Media Holdings Inc., and its...

Companies mentioned in this report are: CC Media Holdings Inc.,Clear Channel Communications Inc.,Clear Channel Worldwide Holdings Inc.
Action: Affirmed
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.

CC Media Holdings Inc.,Clear Channel Communications Inc.,Clear Channel Worldwide Holdings Inc.

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