Moody's upgrades Viacom

Moody's Investors Service said it raised Viacom Inc.'s long-term debt ratings to Baa2 from Baa3 and the commercial paper rating to Prime-2 from Prime-3.

The outlook is stable.

The upgrade of the company's ratings is driven by, Moody's said, its increased comfort with Viacom's corporate governance, particularly given the recent inaction on the part of Viacom to support its controlling shareholder, National Amusements Inc., in the face of its dire financial crisis over the past year.

© 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.