S&P lowers Washington Post outlook to negative

Standard & Poor's said it revised its outlook on Washington Post Co. to negative from stable.

At the same time, the agency said that ratings on the company, including the A+ long-term corporate credit rating and A-1 short-term rating, were affirmed.

The outlook revision reflects a pace of EBITDA declines in the company's newspaper and magazine segments that are significant enough to moderately weaken its otherwise positive view of the company's business diversity, S&P added.

This is even though the newspaper and magazine segments together represented a relatively modest 11% of EBITDA in the 12 months ended June 2008, down from 16% in 2007 and 22% in 2006, the agency noted.

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