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Research Update: CC Media Holdings 'CCC+' Rating Outlook Revised To Negative From Positive Dec 11 Product Image

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

  • Published: December 2011
  • Standard & Poors

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. On Dec. 13, 2011, Standard & Poor's Ratings Services revised its rating outlook on San Antonio, Texas-based CC Media Holdings Inc., and its operating subsidiary Clear Channel...

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

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

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