S&P lowers Warner Music outlook to negative

Standard & Poor's said it revised its outlook on Warner Music Group Corp. to negative from stable, while affirming all ratings, including the BB- corporate credit rating, on the company.

The outlook revision was based on the company's fiscal first-quarter results, the agency said.

Although S&P said it expected a down quarter because of strong releases in the year-ago period, actual results were lower than it anticipated.

Tough year-over-year comparisons will continue through the second quarter, the agency said, noting that the outlook revision also recognizes that uncertainty around the industry's digital migration is likely to be a long-term issue that exacerbates volatile release schedules.

© 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.