S&P: Cygnus outlook stable

Standard & Poor's said it revised its outlook on Cygnus Business Media Inc. and its parent company, CommerceConnect Media Holdings Inc., to stable from developing and affirmed all ratings, including the CCC+ corporate credit rating.

The agency said the outlook change reflects its opinion that an imminent rating change is no longer likely.

The ratings reflect the company's limited liquidity, high tolerance for risk, high debt leverage, small EBITDA base and difficult business fundamentals, S&P said.

In the agency's view, these factors are minimally offset by Cygnus' cash flow diversity and by the niche competitive positions of its trade publications, expositions and related operations.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.