Bulletin: Comcast Corp.'s Potential Cable Network Spinoff Too Early To Call; Raises Lots Of Questions For The Media Sector

NEW YORK (S&P Global Ratings) Nov. 7, 2024--S&P Global Ratings said today that leverage thresholds on Philadelphia-based Comcast Corp. (A-/Stable/--) are not currently affected by the company's announcement during its recent earnings call that it was studying whether to spin off certain of its cable networks into a separate company. Our ratings on the company are unchanged. Our credit rating on Comcast is primarily based on the strength and stability of its Connectivity&Platforms business, which accounts for over 80% of consolidated EBITDA. At this time, we have insufficient details on the potential spin to assess the longer term impact on Comcast's credit metrics though we do believe the company remains firmly committed to its 'A-' issuer credit rating.

...NEW YORK (S&P Global Ratings) Nov. 7, 2024--S&P Global Ratings said today that leverage thresholds on Philadelphia-based Comcast Corp. (A-/Stable/--) are not currently affected by the company's announcement during its recent earnings call that it was studying whether to spin off certain of its cable networks into a separate company. Our ratings on the company are unchanged. Our credit rating on Comcast is primarily based on the strength and stability of its Connectivity & Platforms business, which accounts for over 80% of consolidated EBITDA. At this time, we have insufficient details on the potential spin to assess the longer term impact on Comcast's credit metrics though we do believe the company remains firmly committed to its 'A-' issuer credit rating. We believe the company has only done preliminary work and has yet to make any firm decisions. We do expect to make a detailed assessment of the impact on Comcast's credit profile when we have more information. Key points that we will...

Bulletin