Standard&Poor's Ratings Services derives its 'BB-' issuer rating on E.W. Scripps Co. from: Our anchor of 'bb', based on our "weak" business risk and "intermediate" financial risk profile assessments for the company. An unfavorable comparable ratings analysis modifier, which has a negative one-notch effect on the rating. Below average EBITDA margins in the television and newspaper business; High corporate expenses relative to peers; Unfavorable secular trends affecting traditional print publishing; and Presence in large TV markets and a significant influx of political advertising constitute a percentage of revenue in election and Olympic years. Moderate financial policy, based on our expectation of adjusted leverage on an average trailer eight-quarter EBITDA basis of around 2x; Good cash flow generation, particularly
