Fitch Publishes Media & Entertainment Handbook Volume II
NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has published the second edition of its annual 'Media & Entertainment Handbook' report. The handbook, Fitch's issuer-specific report, accompanies 'Credit Encyclo-media VIII' (which was published on Sept. 22).
The new Media & Entertainment Handbook includes rating drivers, an event risk analysis covering 11 event risk categories for each rated issuer, portfolio summaries, corporate governance overviews, pension screeners, revenue/EBITDA segment pie charts, revenue by geography pie charts, organizational debt diagrams, covenant analysis, maturity schedules, and financial summaries for Fitch's rated portfolio. In addition to Fitch's rated portfolio, Fitch has included credit analysis on non-rated issuers - Cinemark, Gray Television, Lamar Media, Media General, Netflix, Nexstar Broadcasting, Nielsen, R.R. Donnelley & Sons, Sinclair Broadcasting, Sirius XM, TEGNA, Tribune Media, and Warner Music Group.
The Fitch-rated Media & Entertainment portfolio includes:
Diversified Media
--Bertelsmann SE & Co. KGaA ('BBB+'; Outlook Stable)
--CBS Corporation ('BBB'; Outlook Stable)
--Cox Enterprises ('BBB+'; Outlook Stable)
--Discovery Communications LLC ('BBB'; Outlook Stable)
--Liberty Interactive LLC ('BB'; Outlook Stable)
--NBCUniversal Media LLC ('A-'; Outlook Stable)
--Scripps Networks Interactive, Inc. ('BBB+'; Outlook Negative)
--Sky plc (BBB-; Outlook Stable)
--Time Warner Inc. ('BBB+'; Outlook Stable)
--Twenty-First Century Fox, Inc. ('BBB+'; Outlook Stable)
--Viacom, Inc. ('BBB+'; Outlook Stable)
--The Walt Disney Company ('A'; Outlook Stable)
Publishing, Printing, Outdoor, TV and Radio Broadcasting
--Clear Channel Worldwide Holdings Inc. ('B'; Outlook Stable)
--Houghton Mifflin Harcourt Publishers, Inc. ('B+'; Outlook Stable)
--iHeartCommunications, Inc. ('CCC')
--Univision Communications, Inc. ('B'; Outlook Stable)
Movie Exhibitors
--AMC Entertainment, Inc. ('B+'; Outlook Stable)
--Regal Entertainment Group ('B+'; Outlook Stable)
Professional Publishers, Business Products/Services, Ad Agencies
--The Dun and Bradstreet Corporation ('BBB'; Outlook Negative)
--IHS Inc. ('BBB'; Outlook Stable)
--The Interpublic Group of Companies, Inc. ('BBB'; Outlook Stable)
--McGraw Hill Financial Inc. ('BBB+'; Rating Watch Stable)
--Pitney Bowes Inc. ('BBB-'; Outlook Stable)
--RELX ('BBB+'; Outlook Stable)
--Thomson Reuters Corporation ('BBB+'; Outlook Stable)
--Verisk Analytics, Inc. ('BBB+'; Outlook Stable)
--WPP plc ('BBB+'; Outlook Stable)
The 'Media & Entertainment Handbook Volume II' report is available at www.fitchratings.com.
Additional information is available at 'www.fitchratings.com'
Media and Entertainment Handbook (Fitch's Comprehensive Credit Profile Analysis of Issuers, Volume 2)
https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=872474
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