S&P: Disney outlook stable

Standard & Poor's said it revised its outlook on The Walt Disney Co. to stable from negative based on expectations that the company's improved earnings and balance sheet trends will continue and on progress toward restructuring the finances of 41%-owned Euro Disney SCA.

At the same time, S&P affirmed its ratings on the company, including its BBB+ long-term and A-2 short-term corporate credit ratings.

S&P said the ratings on Disney reflect the company's strong creative franchises, extensive media distribution, and good discretionary cash flow potential, partially offset by keen competition from larger, well-capitalized rivals.

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