Belo Corp.’s below-investment grade credit rating was raised a notch to...
Belo Corp.’s below-investment grade credit rating was raised a notch to BB by Standard & Poor’s as Belo reduces leverage. An S&P release Monday (http://xrl.us/bn2jbg) cited “geographic and revenue concentration in Texas, and our assumption that the company’s TV stations…
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will maintain good audience ratings compared with local competitors.” A BB rating means a company’s is “less vulnerable in the near-term but faces major ongoing uncertainties to adverse business, financial and economic conditions,” the ratings agency’s website said (http://xrl.us/bn2jb7).