S&P ups Globo Comunicacao outlook to positive

Standard & Poor's said it revised its outlook on Globo Comunicacao e Participacoes SA to positive from stable.

At the same time, the agency said it affirmed its ratings, including the BBB- global-scale corporate credit rating, on the company.

"The change in outlook reflects the company's commitment to a prudent financial strategy, which in its view mitigates the risks of its limited business profile and potentially volatile cash flows," said credit analyst Milena Zaniboni.

The positive outlook indicates that we could raise the company's rating if it continues its track record of prudent financial strategy and leadership in the Brazilian broadcasting industry, the agency said.

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