NEW YORK (Standard&Poor's) June 28, 2005--Standard&Poor's Ratings Services assigned its 'A' rating to E.W. Scripps Co.'s $150 million 4.30% senior notes due 2010. These securities were drawn down from the company's shelf registration. Proceeds from the notes offering, combined with commercial paper borrowings and cash on hand, were used to finance the acquisition of Shopzilla. At the same time, Standard&Poor's affirmed its 'A' long-term corporate credit and senior unsecured debt and 'A-1' short-term corporate credit and commercial paper ratings on the Cincinnati, Ohio-headquartered diversified media company. The outlook is stable. About $1 billion of debt is outstanding. Ratings stability reflects the expectation that Scripps' business profile will not change significantly over the intermediate term.
