Unconfirmed press reports that Local TV LLC’s assets are for...
Unconfirmed press reports that Local TV LLC’s assets are for sale do not affect the company’s ‘B’ credit rating, Standard & Poor’s said. “If Local TV sells its stations and uses the proceeds to repay the balance of the outstanding…
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debt, we will withdraw the corporate credit ratings on the company and the issue-level rating on the company’s debt,” it said. Local TV has about $450 million in debt outstanding, Standard & Poor’s said. The company was formed in 2007 when it bought nine TV stations from the New York Times Company, and it has added another 12 stations since.