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S&P Credit Research446 word report
published Dec 10, 2008
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| Abstract: | NEW YORK (Standard&Poor's) Dec. 10, 2008--Standard&Poor's Rating Services said today it revised its outlook on Sylvania, Ohio-based media and cable TV operator Block Communications Inc. to negative from stable. We also affirmed all ratings, including the 'BB-' corporate credit rating, on Block. Total debt, adjusted for operating leases and unfunded pensions and other post-employment benefits (OPEBs) as of Sept. 30, 2008, was approximately $346 million. "The change in outlook reflects the deteriorating position of the company's newspaper business," explained Standard&Poor's credit analyst Naveen Sarma. While overall financial performance is still supported by its healthy core cable TV business, the cable segment contribution may not be sufficient to offset the newspaper business' continued secular decline,
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| Brief Excerpt: | RESEARCH Ratings Definitions Block Communications Inc. '##-' Corporate Credit Rating Affirmed; Outlook Revised To Negative Publication date: 10-Dec-2008 Primary Credit Analyst: Naveen Sarma, New York (1) 212-438-7833; naveen_sarma@standardandpoors.com...
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| Report Type: | Ratings Action
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| Ticker: | 85163Z
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| Issuer: | Block Communications Inc.
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| GICS: | Publishing (25401040)
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| Sector: | Corporations, Global Issuers, Telecommunications & Cable
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| Country: | United States
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| Region: | United States
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
Also from S&P Credit Research
- Summary: Block Communications Inc. $175.00
The ratings on Sylvania, Ohio-based media and cable TV operator Block Communications Inc. reflect limited geographic diversity from its small-scale, family-owned cable TV and media operations in economically distressed markets; advertising ...
- Block Communications Inc. $400.00
Fully upgraded cable plant provides the technical ability to compete effectively against direct-to-home satellite TV companies and local telephone companies; and Healthy high-speed data and telephony customer growth. Geographic concentration ...
- Block Communications Inc. Downgraded To 'B+' On Deteriorating Newspaper Business, TV Broadcasting Operations $100.00
-- There has been continued deterioration of both Block's newspaper business and, to some degree, its TV broadcasting operations. -- We are lowering the corporate credit rating on Block to 'B+' from 'BB-'. -- The negative outlook reflects our ...
- Research Update: Block Communications Corporate Credit Rating Lowered To 'B+' Due To Deteriorating Newspaper Business&TV Broadcasting $175.00
There has been continued deterioration of both Block's newspaper business and, to some degree, its TV broadcasting operations. We are lowering the corporate credit rating on Block to 'B+' from 'BB-'. The negative outlook reflects our expectation ...
- Research Update: Block Communications Inc. Outlook Revised To Negative On Weaker Newspaper Business $175.00
On Dec. 10, 2008, Standard&Poor's Rating Services revised its outlook on Sylvania, Ohio-based media and cable TV operator Block Communications Inc. to negative from stable. We also affirmed all ratings, including the 'BB-' corporate credit ...
- Summary: Block Communications Inc. $175.00
The ratings on Sylvania, Ohio-based media and cable TV operator Block Communications Inc. continue to reflect limited geographic diversity from its small-scale, family-owned cable TV and media operations in economically distressed markets; ...
- Summary: Block Communications Inc. $175.00
The ratings on Sylvania, Ohio-based media and cable TV operator Block Communications Inc. reflect limited geographic diversity from its small-scale, family-owned cable TV and media operations in economically distressed markets; weak advertising ...
- Block Communications Inc. Ratings Raised To 'BB-' On Significant Leverage Improvement $100.00
NEW YORK (Standard&Poor's) April 25, 2008--Standard&Poor's Ratings Services today raised its ratings on Sylvania, Ohio-based media and cable television operator, Block Communications Inc., including the corporate credit rating to 'BB-' from ...
