Cumulus Media Ratings Remain On Watch Positive After Finances Reallocated Jul 11
- ID: 2086169
- July 2011
- Standard & Poors
Cumulus Media Holdings has moved $75 million from its proposed revolver to its proposed term loan. The ratings on Cumulus Media Holdings and its parent, Cumulus Media Inc., remain on CreditWatch, where they were placed with positive implications on Feb. 18, 2011. CHICAGO (Standard & Poor's) July 22, 2011--Standard & Poor's Ratings Services today announced that Cumulus Media Holdings Inc.'s decision to move $75 million from its proposed revolver to its proposed term loan does not impact any ratings. "The continued CreditWatch listing of Cumulus Media Inc. and its subsidiary Cumulus Media Holdings reflects our view that consolidated debt leverage and financial risk for the combined entity of Cumulus, Citadel, and CMP Susquehanna Radio Holdings Corp. will be meaningfully lower...
Companies mentioned in this report are: Cumulus Media Holdings Inc.,Cumulus Media Inc.
Action: CreditWatch Update
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Research type: News
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