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Univision Communications’s outlook cut to negative; ‘B1′ CFR affirmed – Moody’s
Tagged: Univision
Moody’s Investors Service said it has cut its outlook on Los Angeles-based Univision Communications Inc to negative from stable, reflecting the likelihood that proceeds from the music business and other planned asset sales may be lower than the ratings agency’s anticipation.
The asset sale shortfall and more difficult advertising market conditions could challenge Univision’s ability to reduce debt-to-EBITDA to the 9.0 times level for 2008, and fund the maturity of the 500 mln usd second lien asset sale bridge in March 2009, Moody’s (nyse: MCO – news – people ) said.”*
*From: www.forbes.com
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Filed Under: 1. Hispanic News, Business, Business News, Media
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