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S&P: Comcast, Disney unchanged
Standard & Poor's said the BBB+ and A-2 ratings of Comcast Corp., along with the A and A-1 ratings of Walt Disney Co., are unaffected by the announced agreement by its NBCUniversal unit to sell its 15.8% interest in A&E Television Networks LLC for $3.025 billion in cash.
The outlook on both companies remains stable.
The other owners in A&E include Hearst Corp. and Walt Disney, which each own about 42%. Given Comcast's relatively small stake, S&P said it does not view this as a strategic investment for them. Therefore, it has no effect on Comcast's overall strong business risk assessment, the agency said.
Moreover, since Comcast held a minority, non-controlling stake in A&E, it did not contribute significantly to the company's overall financial profile, S&P added.
The proceeds received from this transaction would provide a partial funding source for Comcast's increased ownership in NBCUniversal, the agency said.
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