Fitch affirms Disney

Fitch Ratings said it affirmed the issuer default ratings and senior unsecured debt of Walt Disney Co., ABC Inc. and Disney Enterprises, Inc. at A. Disney's short-term issuer default rating and commercial paper were affirmed at F1.

The outlook is stable.

The agency said Disney's ratings continue to reflect the company's leading market positions in core businesses, unique brand franchises, substantial cable network carriage revenues and strong credit metrics.

Credit concerns center on the cyclical volatility of its theme parks and resorts, studio and broadcast networks businesses as well as the maturation of the DVD business, Fitch said.

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