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S&P Credit Research1635 word report
published Oct 23, 2008
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S&P Credit Research
| Abstract: | On Oct. 23, 2008, Standard&Poor's Ratings Services lowered its corporate credit rating on The New York Times Co. to 'BB-' from 'BBB-'. The rating was removed from CreditWatch, where it was placed July 23, 2008. The rating outlook is negative. At the same time, we lowered our issue-level rating on the company's unsecured debt issues to 'BB-' (at the same level as the 'BB-' corporate credit rating) from 'BBB-'. The issue-level rating was also removed from CreditWatch. In addition, we assigned a recovery rating of '4' to this debt, indicating the expectation for average (30% to 50%) recovery in the event of a payment default. The ratings downgrade reflects our expectation that a likely U.S. economic recession over
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| Brief Excerpt: | RESEARCH Ratings Definitions Research Update: New York Times Co. Rating Lowered To '##-' From '###-'; Outlook Negative Publication date: 23-Oct-2008 Primary Credit Analyst: Emile Courtney, CFA, New York (1) 212-438-7824; emile_courtney@standardandpoors....
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| Report Type: | Research Update
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| Ticker: | NYT
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| Issuer: | New York Times Co. (The)
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| GICS: | Publishing (25401040)
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| Sector: | Corporations, Global Issuers, Media & Entertainment
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| Country: | United States
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| Region: | United States
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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.
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- Summary: New York Times Co. (The) $175.00
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- New York Times Rating Cut To 'B+' And Placed On CreditWatch Negative $100.00
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On April 22, 2009, Standard&Poor's Ratings Services lowered its corporate credit rating for The New York Times Co., as well as its issue-level rating on the company's senior unsecured debt, to 'B+' from 'BB-', and placed them on CreditWatch ...
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- New York Times Co. (The) $400.00
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