S&P puts Morris Publishing on watch

Standard & Poor's said it placed Morris Publishing Group LLC's BB- corporate credit rating on CreditWatch with negative implications.

The watch reflects expectation that current rates of decline in advertising revenue at Morris' newspaper publications may not improve appreciably and may worsen over the intermediate term, according to the agency.

The issuer's lease-adjusted total debt-to-EBITDA ratio at parent Morris Communications Co. LLC was in the low 6 times at December.

© 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.