| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers I > Headlines for Ion Media Networks, Inc. > News item |
S&P upgrades ION Media Networks
S&P said it raised the rating on ION Media Networks Inc. to BB- from B+, along with the rating on the company's revolving credit facility and term loan B due 2020 to BB-.
The 3 recovery rating is unchanged.
The outlook is stable.
The upgrades reflect a view that ION will maintain adjusted leverage less than the mid-4x range even as it periodically issues future dividends, S&P said.
The agency also said it expects ION to continue its strong operating performance and for the company to continue generating stronger-than-industry advertising revenue growth, the agency said.
The company also continued to effectively manage its programming costs, helping to sustain its high EBITDA margin, S&P said.
© 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.