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S&P could cut Tribune
Standard & Poor's said it placed all ratings, including the BB- corporate credit rating, on Tribune Co. on CreditWatch with negative implications.
S&P said the CreditWatch listing is in response to the company's announcement that it is acquiring Local TV LLC and FoxCo Acquisition LLC for a total of $2,725,000,000.
The CreditWatch listing reflects a meaningful increase in leverage. In the agency's assessment, the acquisition will improve the company's business position because of the healthier long-term prospects for broadcasting.
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