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S&P Credit Research1098 word report
published Dec 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. continue to reflect limited geographic diversity from its small-scale, family-owned cable TV and media operations in economically distressed markets; advertising declines and secular circulation erosion in the high fixed-cost newspaper business; and subpar profitability at both the newspaper and TV broadcasting businesses. 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. While overall financial performance is still supported by its healthy core cable TV business, the cable segment contribution may not be sufficient to offset the newspaper business' continued
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| Brief Excerpt: | RESEARCH Ratings Definitions Summary: Block Communications Inc. Publication date: 10-Dec-2008 Primary Credit Analyst: Naveen Sarma, New York (1) 212-438-7833; naveen_sarma@standardandpoors.com Credit Rating: ##-/Negative/-- 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 ...
- 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. reflect limited geographic diversity from its small-scale, family-owned cable TV and media operations in economically distressed markets; weak advertising ...
