S&P: Washington Post remains on watch

Standard & Poor's said it kept Washington Post Co.'s ratings on CreditWatch with negative implications.

The ratings on watch include the company's A long-term corporate credit and senior unsecured ratings, as well as its A-1 short-term commercial paper rating.

The agency said it remains concerned that declining revenues and EBITDA will continue over the near- to intermediate-term in the company's Kaplan higher education business, despite finalized Department of Education regulations that are somewhat less onerous than initially proposed.

The company's credit quality has relied on its mix of education and media businesses, strong profitability, low debt leverage, good discretionary cash flow generation and ample excess liquidity, S&P said.

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