Fitch affirms Viacom

Fitch Ratings said it affirmed the BBB+ issuer default rating and all outstanding ratings on Viacom, Inc. The outlook is stable.

The agency said the ratings and outlook reflect the company's strong financial flexibility and Fitch's expectation that the company will remain solidly within its 2.25 times total leverage threshold for current ratings.

Fitch said it the ratings are underpinned by the strength in the company's Media Networks segment, highlighted by the cable networks' dual revenue stream of ad revenue and affiliate fees, as well as its low capital intensity and high free cash flow conversion.

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