S&P: LBI Media outlook stable

Standard & Poor's said it revised its outlook on LBI Media Inc. to stable from positive and affirmed the B corporate credit rating.

The outlook revision reflects the agency's expectation that leverage will remain high over the near term due to the company's acquisitive growth strategy and challenging radio and TV advertising demand in 2008.

S&P said a further concern is the onset of cash interest payments on the company's 11% discount notes, which begin to accrue on Oct. 15, 2008. The company had previously intended to refinance these notes prior to the onset of cash interest payments, but the agency believes the tight credit environment places increased uncertainty around the company's plans to address these notes.

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