...- U.S.-based radio broadcaster and digital marketer Townsquare Media Inc.'s broadcast revenue has continued to recover from the coronavirus-related advertising recession and it is experiencing a strong ongoing improvement in its digital advertising business. - We expect these trends to continue in 2022, thus we have increased our revenue and EBITDA forecast. Specifically, we expect the company's S&P Global Ratings-adjusted leverage will decline below our 5x upgrade threshold by the end of 2022, which compares with our previous estimate of the mid-5x area. - Therefore, we revised our outlook on Townsquare to positive from stable and affirmed our 'B' issuer credit rating. - The positive outlook reflects our expectation that the company's gross leverage is on track to improve below 5.0x by the end of 2022 from the 5.4x-5.6x range in 2021. This expected improvement stems from the ongoing recovery in Townsquare's broadcast advertising revenue, the strong ongoing expansion in its digital business...
