S&P lifts Entravision outlook to positive

Standard & Poor's said it revised its outlook on Entravision Communications Corp. to positive from stable, reflecting the company's strong operating performance relative to the industry, solid liquidity position and maintenance of lower leverage even after aggressive share buybacks and continued acquisitions in 2006.

At the same time, the agency said it affirmed its B+ long-term corporate credit rating on the company.

S&P noted that the rating on Entravision reflects the company's high debt levels, intensifying Spanish-language media competition and the potential for advertising volatility while these factors are only partially offset by Entravision's long-term strategic relationship with shareholder Univision Communications Inc. (B/negative), broadcasting's good margin potential and discretionary cash flow-generating capabilities and resilient station asset values.

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