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Moody's may lift News Corp.
Moody's Investors Service said it placed News Corp.'s ratings on review for upgrade.
The agency said the review is prompted by the strengthening of the company's balance sheet and credit metrics over recent years, together with Moody's confidence in management's desire to obtain and maintain stronger credit ratings.
Affected ratings include News America Inc.'s Baa3 senior unsecured, News Corp. Finance Trust II's Baa3 senior unsecured, News Corp. Overseas Ltd.'s Ba1 trust preferred shares and News Corp. Exchange Trust's Ba1 trust preferred shares.
Moody's noted the review will focus on News Corp.'s ability to sustain improvements in operating performance and credit metrics sensitized for economic cycles, continued investments and acquisitions and share repurchases.
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