S&P downgrades Viacom

Standard & Poor’s said it removed the ratings on Viacom Inc. from CreditWatch with negative implications, where they were placed in November.

The agency also said it lowered the ratings on the company, including the corporate credit ratings to BBB- and A-3 from BBB and A-2.

The outlook is stable.

Viacom’s business risk profile is now considered at the lower half of the satisfactory category, S&P said.

Although Viacom owns a number of key cable network brands, the agency said it views the domestic cable networks as more vulnerable than its media peers due to the secular trends affecting the U.S. television industry, the agency said.

The stable outlook reflects an expectation that Viacom’s business risk profile will not materially weaken over the next two years, S&P added.

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