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S&P Credit Research579 word report
published May 15, 2009
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| Abstract: | -- 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 that continued weakness at the newspaper segment will result in adjusted leverage in the mid-5x range. NEW YORK (Standard&Poor's) May 15, 2009--Standard&Poor's Rating Services said today it lowered its ratings on Sylvania, Ohio-based media and cable TV operator Block Communications Inc., including its corporate credit rating which we lowered to 'B+' from 'BB-'. The outlook is negative. "The downgrade is due to the continued deterioration of both Block's newspaper business and, to some degree, its TV
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| Brief Excerpt: | RESEARCH Ratings Definitions Block Communications Inc. Downgraded To 'B+' On Deteriorating Newspaper Business, TV Broadcasting Operations Publication date: 15-May-2009 Primary Credit Analyst: Naveen Sarma, New York (1) 212-438-7833;...
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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: | Global Issuers
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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.
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