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S&P Credit Research968 word report
published May 15, 2009
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S&P Credit Research
| 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. On May 15, 2009, Standard&Poor's Rating Services 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 broadcasting operations. While the company's overall financial performance is
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| Brief Excerpt: | RESEARCH Ratings Definitions Research Update: Block Communications Corporate Credit Rating Lowered To 'B+' Due To Deteriorating Newspaper Business & TV Broadcasting Publication date: 15-May-2009 Primary Credit Analyst: Naveen Sarma,...
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| Report Type: | Research Update
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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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