Fitch affirms Viacom

Fitch Ratings said it affirmed Viacom Inc.'s long-term issuer default rating at BBB, senior unsecured notes and debentures at BBB, senior unsecured bank facility due 2010 at BBB, short-term issuer default rating at F2 and commercial paper at F2.

The outlook is stable.

Ratings are supported by the company's strong cash generating ability, leading positions in numerous targeted demographics, solid carriage positions and overall global prominence of its brands, the agency said.

Concerns include Viacom's exposure to cyclical advertising, weak total day ratings at MTV and an increasingly fragmented landscape for some of Viacom's key targeted demographics, secular challenges related to time-shifting and the inherent volatility of the movie business, the agency noted.

© 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.