Fitch lifts Viacom view to stable

Fitch Ratings said it affirmed the BBB long-term issuer default rating on Viacom Inc. and all issue ratings.

Fitch also said it revised the outlook to stable from negative.

Viacom had about $9.9 billion in total debt with equity credit as of Sept. 30, the agency said.

The outlook revision reflects the ongoing improvement of Viacom's credit protection metrics as the company continues to prioritize strengthening its balance sheet, Fitch said.

The agency said it believes there are a number of positive signs in Viacom's recent operating performance that illustrate an inflection point, particularly in the Paramount business.

Fitch said it views Viacom's efforts to grow Paramount's TV production revenues positively as it will provide a level of stability for the segment's more volatile film revenues and cash flows.

© 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.