AP
Moody's cuts NY Times ratings to notch above 'junk' status
Tuesday April 22, 4:20 pm ET
Moody's cuts New York Times ratings, leaves publisher 1 notch above 'junk' status
NEW YORK (AP) -- Moody's Investors Service cut New York Times Co.'s debt rating Tuesday, saying the publisher's creditworthiness is deteriorating as advertising revenue continues to decline and cash is need for capital expenses.
The agency cut the rating two notches to 'Baa3,' leaving it one level above "junk" status. Ratings assess a company's ability to repay debt and affect its cost of borrowing.
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also from newsweek
Newsweek magazine also recently reported that close advisers of New York City Mayor Michael Bloomberg have urged the founder of the Bloomberg LLC financial news and data service to consider a bid for the paper to safeguard its editorial integrity. :SIB
Moody's cuts NY Times ratings to notch above 'junk' status
Tuesday April 22, 4:20 pm ET
Moody's cuts New York Times ratings, leaves publisher 1 notch above 'junk' status
NEW YORK (AP) -- Moody's Investors Service cut New York Times Co.'s debt rating Tuesday, saying the publisher's creditworthiness is deteriorating as advertising revenue continues to decline and cash is need for capital expenses.
The agency cut the rating two notches to 'Baa3,' leaving it one level above "junk" status. Ratings assess a company's ability to repay debt and affect its cost of borrowing.
++++++++++++++++++++++++++++++
also from newsweek
Newsweek magazine also recently reported that close advisers of New York City Mayor Michael Bloomberg have urged the founder of the Bloomberg LLC financial news and data service to consider a bid for the paper to safeguard its editorial integrity. :SIB
