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S&P Credit Research1069 word report
published Oct 10, 2008
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S&P Credit Research
| Abstract: | The ratings on Sylvania, Ohio-based media and cable TV operator Block Communications Inc. reflect limited geographic diversity from its small-scale, family-owned cable TV and media operations in economically distressed markets; weak advertising growth and secular circulation erosion in the high fixed-cost newspaper business; and subpar profitability at both the newspaper and TV broadcasting businesses. Despite the significant improvements, the rating also reflects still-aggressive leverage. Mitigating factors include the cable segment's good competitive position against the key satellite TV operators; expectations for continued healthy revenue and cash flow growth from increased penetration of advanced cable services; and improved financial results at the newspaper division due to significant labor cost savings. Block Communications provides cable TV service to about 147,000 basic subscribers
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| Brief Excerpt: | RESEARCH Ratings Definitions Summary: Block Communications Inc. Publication date: 10-Oct-2008 Primary Credit Analyst: Naveen Sarma, New York (1) 212-438-7833; naveen_sarma@standardandpoors.com Credit Rating: ##-/Stable/-- Rationale...
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| Report Type: | Summary
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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: | Corporations, Global Issuers, Telecommunications & Cable
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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
- Summary: Block Communications Inc. $175.00
The ratings on Sylvania, Ohio-based media and cable TV operator Block Communications Inc. reflect limited geographic diversity from its small-scale, family-owned cable TV and media operations in economically distressed markets; advertising ...
- Block Communications Inc. $400.00
Fully upgraded cable plant provides the technical ability to compete effectively against direct-to-home satellite TV companies and local telephone companies; and Healthy high-speed data and telephony customer growth. Geographic concentration ...
- Block Communications Inc. Downgraded To 'B+' On Deteriorating Newspaper Business, TV Broadcasting Operations $100.00
-- 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 ...
- Research Update: Block Communications Corporate Credit Rating Lowered To 'B+' Due To Deteriorating Newspaper Business&TV Broadcasting $175.00
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 ...
- Block Communications Inc. 'BB-' Corporate Credit Rating Affirmed; Outlook Revised To Negative $100.00
NEW YORK (Standard&Poor's) Dec. 10, 2008--Standard&Poor's Rating Services said today it revised its outlook on Sylvania, Ohio-based media and cable TV operator Block Communications Inc. to negative from stable. We also affirmed all ratings, ...
- Research Update: Block Communications Inc. Outlook Revised To Negative On Weaker Newspaper Business $175.00
On Dec. 10, 2008, Standard&Poor's Rating Services revised its outlook on Sylvania, Ohio-based media and cable TV operator Block Communications Inc. to negative from stable. We also affirmed all ratings, including the 'BB-' corporate credit ...
- Summary: Block Communications Inc. $175.00
The ratings on Sylvania, Ohio-based media and cable TV operator Block Communications Inc. continue to reflect limited geographic diversity from its small-scale, family-owned cable TV and media operations in economically distressed markets; ...
- Block Communications Inc. Ratings Raised To 'BB-' On Significant Leverage Improvement $100.00
NEW YORK (Standard&Poor's) April 25, 2008--Standard&Poor's Ratings Services today raised its ratings on Sylvania, Ohio-based media and cable television operator, Block Communications Inc., including the corporate credit rating to 'BB-' from ...
