S&P ends Inter Media observation

S&P said it completed its review of Inter Media and Communication SpA, ended the under criteria observation and left the B rating on its debt on CreditWatch with negative implications.

On Dec. 14, S&P published its revised criteria for project finance transactions.

“The revised criteria don't have a relevant impact on MediaCo's credit quality or our view of its business and financial assessments. The liquidity assessment is neutral, compared with less than adequate before. Nevertheless, our assessment is still neutral to the rating, given that the bond benefits from a fully funded reserve that aims to cover the lesser of the peak annual interest service and half of peak annual debt service,” S&P said in a press release.

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