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Standard & Poor's revises its rating outlook on Gannett (GCI) to positive from stable, and...

Standard & Poor's revises its rating outlook on Gannett (GCI) to positive from stable, and reafirms all other existing ratings on the company. The agency cites GCI's proposed debt-financed acquisition of Belo (BLC), saying it raises debt leverage, but improves the assessment of its business position. Additionally, the company could get a rating upgrade to 'BB+' over the intermediate term if S&P becomes convinced GCI will be able to maintain debt leverage on a trailing-eight-quarter EBITDA basis at less than 3x in 2014.
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Comments (1)
  • Tactician
    , contributor
    Comments (22) | Send Message
     
    GCI/BELO is a game changer, enough said.
    13 Jun 2013, 07:43 PM Reply Like
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