Moody's: Scripps unchanged

Moody's Investors Service said that Scripps Networks Interactive Inc.'s (Baa1 senior/stable) announcement that its board authorized a $1 billion share repurchase program will not impact its credit rating.

As part of this authorization, the company also agreed to repurchase about $300 million of stock from the E. W. Scripps Trust, the company's controlling shareholder, the agency added.

Moody's said it does not expect the program to impact the company's credit ratings as it is not expected to impact leverage and other credit metrics. Liquidity will also remain strong.

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