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S&P Credit Research33955 word report
published Jan 30, 2009
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S&P Credit Research
| Abstract: | The largesse of political advertising, the Summer Olympics, and even the mid-2008 fiscal stimulus package are fading memories as ad demand, consumer discretionary spending, and credit quality sink into a deep freeze that Standard&Poor's Ratings Services expects will continue through most or all of 2009. And many consumer-driven media and entertainment sectors will suffer frostbite as a result. Standard&Poor's base case economic forecast calls for a bottoming of the recession in late 2009, with a full-year real GDP decline of 2%. We expect this decline will be magnified in a total ad spending decline of 6.2% for the year. Despite record election spending last year, we expect final 2008 U.S. ad spending data to show flat
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| Brief Excerpt: | RESEARCH Ratings Definitions Industry Report Card: From Big Chill To Ice Age For U.S. Media And Entertainment Issuers Publication date: 30-Jan-2009 Primary Credit Analyst: Heather M Goodchild, New York (1) 212-438-7835; heather_goodchild@standardandpoor...
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| Report Type: | Commentary
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| Sector: | Global Issuers, Structured Finance
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| Free Sample: |
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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.
