S&P affirms Entercom

S&P said it affirmed the ratings, including the B+ corporate credit rating, on Entercom Communications Corp. and removed the ratings from CreditWatch, where they were placed with positive implications on Feb. 2.

The outlook is stable.

Entercom is expected to merge with CBS Radio Inc.

S&P said the corporate credit rating the reflects the combined company's critical mass as one of the largest U.S. radio broadcasters and its favorable large-market presence, tempered by its lack of meaningful diversification outside radio broadcasting and the secular pressures affecting radio advertising.

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