S&P: Sinclair Broadcasting outlook stable

Standard & Poor's said it affirmed its ratings on Sinclair Broadcast Group Inc., including the BB+ corporate credit rating, and changed the outlook to stable from negative.

The outlook change reflects Sinclair's progress in reducing its leverage and the agency's expectation that the company's debt levels will continue to improve, S&P said.

The ratings on Sinclair Broadcast Group and its subsidiary, Sinclair Television Group Inc., reflect the company's financial risk from high debt leverage, its portfolio of generally lower-ranked stations and TV advertising's mature revenue growth prospects, the agency said.

S&P said the company's large TV audience reach, TV broadcasting's typically good margin and discretionary cash flow potential and resilient station asset values partially offset these factors.

© 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.