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S&P: Globo view to positive
Standard & Poor's said it revised the outlook on Globo Comunicacao e Participacoes SA to positive from stable.
The agency also said it affirmed the BBB ratings on the company.
The outlook change reflects Globo's robust profitability in the past several quarters, despite expectations of margin pressures due to rising cost inflation and increasing competition for television talent and transmission rights of sports events, S&P said.
The company managed its cost structure well, which resulted in stable margins over the past several quarters thanks to media and advertising market growth that boosted its content and programming and advertising revenues, the agency said.
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