The E.W. Scripps Co. Removed From CreditWatch Positive And Upgraded To 'BB' From 'BB-'; Outlook Stable

Cincinnati, Ohio-based TV broadcaster The E.W. Scripps Co. (Scripps) is issuing an incremental term loan B to help finance its acquisition of Milwaukee, Wis.-based Journal Communications Inc. We are revising our business risk assessment on Scripps to "fair" from "weak" and are removing our ratings on the company from CreditWatch positive. We are also raising our corporate credit rating on Scripps to 'BB' from 'BB-' and our issue-level rating on the company's senior secured debt to 'BBB-' from 'BB+'. The '1' recovery rating on the debt remains unchanged. The stable outlook reflects our expectations Scripps will maintain adjusted leverage in the 2x-3x range. NEW YORK (Standard&Poor's) March 3, 2015--Standard&Poor's Ratings Services said today that it removed

...+ Cincinnati, Ohio-based TV broadcaster The E.W. Scripps Co. (Scripps) is issuing an incremental term loan B to help finance its acquisition of Milwaukee, Wis.-based Journal Communications Inc. + We are revising our business risk assessment on Scripps to "fair" from "weak" and are removing our ratings on the company from CreditWatch positive. + We are also raising our corporate credit rating on Scripps to '##' from '##-' and our issue-level rating on the company's senior secured debt to '###-' from '##+'. The '1' recovery rating on the debt remains unchanged. + The stable outlook reflects our expectations Scripps will maintain adjusted leverage in the 2x-3x range. NEW YORK (Standard & Poor's) March 3, 2015--Standard & Poor's Ratings Services said today that it removed its ratings on Cincinnati, Ohio-based TV broadcaster The E.W. Scripps Co. (Scripps) from CreditWatch positive, where we had placed them on July 31, 2014. At the same time, we raised our corporate credit rating on the company...

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