Fitch puts Liberty Media on watch

Fitch Ratings said it placed Liberty Media LLC and subsidiary QVC Inc.'s BB issuer default ratings on Rating Watch negative. Liberty also has a BB senior unsecured debt rating and QVC has a BBB- bank facility rating.

The watch is based on the company's plans to spin off assets of Liberty Entertainment, the agency said.

A spinoff of the DirecTV assets was considered in existing ratings, but QVC has produced sluggish performance over the past 12 months and now faces a difficult domestic macro-economic environment, the agency noted.

© 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.