S&P: Media General on positive watch

Standard & Poor's said it placed its BB+ corporate credit and senior unsecured debt ratings on Media General Inc. on CreditWatch with positive implications.

S&P said the CreditWatch listing reflects the company's improving financial profile as it has focused on using its cash flow after capital expenditures and dividends for debt reduction over the past several years.

The agency said the company is expected to seek acquisitions in its core Southeast region. However, the timing and magnitude of such transactions are uncertain.

S&P said it will review its ratings on Media General after evaluating whether the company will be able to maintain a financial profile consistent for a higher rating despite the prospects for debt-financed acquisitions.

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