S&P cuts Entravision outlook to stable

Standard & Poor's said it revised its outlook on Entravision Communications Corp. to stable from positive.

Although the agency said it still believes that ratings have upward potential, the action reflects its expectation of a longer-term path to an upgrade due to challenging advertising demand in 2008 that could limit significant EBITDA growth, as well as uncertainty surrounding Entravision's use of outdoor asset sales proceeds.

At the same time, S&P said that it affirmed its B+ corporate credit rating on the company, adding that the rating on Entravision reflects the company's high debt levels, intensifying Spanish-language media competition, potential for advertising volatility and Hispanic media's inability to generate revenue commensurate with its audience share.

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