S&P: Time on positive watch

S&P said it placed its B corporate credit rating on Time Inc. on CreditWatch with positive implications following the announcement that Meredith Corp. will acquire the company.

“The CreditWatch placement reflects our expectation that we could raise our corporate credit rating on Time Inc. by one notch once the transaction closes. We believe Time Inc.'s business prospects and credit measures will improve, benefitting from the cost and operating synergies and the greater business scale and diversity that will result from the acquisition,” S&P said in a news release.

© 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.