Moody's affirms Liberty Media

Moody's Investors Service said it affirmed Liberty Media Corp.'s Baa3 senior unsecured credit rating.

The outlook was changed to negative from stable.

Moody's said the change in outlook reflects Moody's growing concern that Liberty Media may change its strategy to emphasize shareholder returns at the expense of creditors by: more aggressively transforming the company's asset mix, distributing cash or assets to shareholders, or dividing the company into parts.

The negative outlook also reflects Moody's concern that Liberty Media has weakened its liquid asset coverage by contributing cash and liquid assets to Liberty Media International and to Comcast in a recent share repurchase transaction.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.