US media and telecom cos can withstand current credit market crisis - Moody's |
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Mon, 15 Oct 2007 16:11
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MUMBAI (Thomson Financial) - Moody's Investors Service said most non-investment grade US media and telecommunication companies have the liquidity to withstand the current credit market crisis and a potential economic slowdown.The sector is largely recession proof and most companies successfully refinanced in the period preceding the market turmoil, Moody's said in its report.Moody's said about 55 pct of the high-yield media and telecom companies that it rates accessed the credit markets between 2006 and 2007 and do not have to do so again for three or more years.Also, although advertising-related revenue in most media industries is vulnerable to swings in consumer spending, the sector as a whole is less economically sensitive than other sectors, Moody's said.TFN.newsdesk@thomson.comypv/ranCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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American Water senior unsecured issuer ratings downgraded to 'Baa2' - Moody's 