- Language: English
- Published: October 2012
- Region: Venezuela
Summary: Newport Television Holdings LLC Dec 11
- Published: December 2011
- Standard & Poors
Standard & Poor's Ratings Services' corporate credit rating on Kansas City, Mo.-based TV broadcaster Newport Television Holdings LLC reflects the company's "less-than-adequate" liquidity (as we define the term in our criteria), high ratio of debt to EBITDA, and sensitivity to election cycles, as well as TV broadcasting's mature revenue growth prospects. We consider the company's business risk profile as "weak" because of the undistinguished market position of many of its stations and the company's relatively low EBITDA margin compared with peers. Newport's ratio of lease-adjusted debt to EBITDA of 7.4x underpins our view that the company's financial risk is "highly leveraged." Newport operates 59 TV stations in 21 markets ranked from No. 32 to No. 202, reaching about 8.5% of...
Companies mentioned in this report are: Newport Television Holdings LLC
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Newport Television Holdings LLC