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Fitch affirms News Corp.
Fitch Ratings said it affirmed the issuer default ratings of News Corp., News America, Inc. and News America Finance Trust II at BBB, News America's senior unsecured debt at BBB and News America Finance Trust II's BUCS senior exchangeable securities at BBB.
The outlook is stable.
The agency said that, overall, the ratings on News Corp. continue to recognize the company's size and scope as one of the largest global media and entertainment companies. Fitch believes News Corp.'s credit-protection measures, strong free cash flow and solid liquidity make the credit profile strong for the rating category.
Rating concerns center on the secular challenges facing the newspaper, magazine and local TV broadcasting businesses, the agency said.
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