Research Update: Nexstar Media Group Ratings Affirmed On Realization Of Expected Synergies From Media General Acquisition; Outlook Stable

U.S. local TV broadcaster Nexstar Media Group Inc. has successfully integrated the assets it acquired from Media General Inc. and realized expected synergies. We are affirming all of our ratings, including our 'BB-' corporate credit rating, on Nexstar. The stable rating outlook reflects our expectation that Nexstar will continue to increase it cash flow and reduce debt to average trailing-eight-quarter EBITDA to the high-4x area in 2018 due to healthy revenue growth and a balanced financial policy. On March 26, 2018, S&P Global Ratings affirmed its 'BB-' corporate credit rating on Nexstar Media Group Inc. The rating outlook is stable. At the same time, we affirmed our 'BB+' issue-level ratings on the company's secured revolving credit facility and first-lien term

...+ U.S. local TV broadcaster Nexstar Media Group Inc. has successfully integrated the assets it acquired from Media General Inc. and realized expected synergies. + We are affirming all of our ratings, including our '##-' corporate credit rating, on Nexstar. + The stable rating outlook reflects our expectation that Nexstar will continue to increase it cash flow and reduce debt to average trailing-eight-quarter EBITDA to the high-4x area in 2018 due to healthy revenue growth and a balanced financial policy....

Research Update