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S&P Credit Research1783 word report
published Jun 26, 2009
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S&P Credit Research
| Abstract: | We believe that long-term secular pressures in Washington Post Co.'s newspaper, magazine, and, to some extent, broadcasting businesses, reduce the support that its business diversity has historically afforded its credit quality, although we expect the company's liquidity position to remain strong. We lowered our long-term rating on the company to 'A' from 'A+' and affirmed its 'A-1' commercial paper rating. The negative rating outlook reflects a high level of revenue variability and significant execution risks for the company in restructuring its newspaper and magazine publishing businesses. On June 26, 2009, Standard&Poor's Ratings Services lowered its corporate credit and senior unsecured issue-level ratings on Washington Post Co. to 'A' from 'A+'. We also affirmed our 'A-1' commercial paper (CP)
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| Brief Excerpt: | RESEARCH Ratings Definitions Research Update: Washington Post Co. Rating Lowered To 'A'; 'A-1' CP Rating Affirmed; Outlook Negative Publication date: 26-Jun-2009 Primary Credit Analyst: Emile Courtney, CFA, New York (1) 212-438-7824;...
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| Report Type: | Research Update
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| Ticker: | WPO
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| Issuer: | Washington Post Co.
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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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| 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.
Also from S&P Credit Research
- Washington Post Co. $400.00
Ample liquidity Minimal financial risk profile Leading and diverse business positions Operating losses associated with publishing businesses Historically acquisitive growth strategy Standard&Poor's Ratings Services' 'A' rating on Washington ...
- Summary: Washington Post Co. $175.00
Standard&Poor's Ratings Services' 'A' rating on Washington Post Co. reflects the company's ample levels of excess liquidity, minimal financial risk profile, and leading and diverse business positions. The continuing operating difficulties and ...
- Washington Post 'A' Rating Outlook Revised To Stable From Negative $100.00
We now expect 2009 EBITDA at U.S. media and education company Washington Post to decline less than we had previously anticipated at the time we downgraded the corporate credit rating in June 2009. We also expect the company's liquidity and ...
- Research Update: Washington Post Co. 'A' Rating Outlook Revised To Stable From Negative $175.00
We now expect 2009 EBITDA at U.S. media and education company Washington Post to decline less than we had previously anticipated at the time we downgraded the corporate credit rating in June 2009. We also expect the company's liquidity and ...
- Washington Post Co. 'A-1' CP Rating Affirmed; Corporate Credit Rating Lowered To 'A' $100.00
-- We believe that long-term secular pressures in Washington Post Co.'s newspaper, magazine, and, to some extent, broadcasting businesses, reduce the support that the its business diversity has historically afforded its credit quality, although ...
- Washington Post 'A+' Rating Placed On Watch Negative $100.00
-- Increasing economic and secular pressures are negatively affecting revenue and EBITDA trends in Washington Post's newspaper and magazine businesses. -- We have placed our ratings for the company on CreditWatch with negative implications. ...
- Research Update: Washington Post Co. 'A+' Rating Placed On CreditWatch Negative $175.00
Increasing economic and secular pressures are negatively affecting revenue and EBITDA trends in Washington Post's newspaper and magazine businesses. We have placed our ratings for the company on CreditWatch with negative implications. The CreditWatch ...
- Washington Post Co.'s $400M Senior Unsecured Notes Rated 'A+' $100.00
NEW YORK (Standard&Poor's) Jan. 27, 2009--Standard&Poor's Ratings Services today assigned its 'A+' rating to Washington Post Co.'s proposed $400 million senior unsecured notes due 2019. We expect the company to use the proceeds from the notes ...
