S&P Cuts Debt Rating on Clear Channel Outdoor (Billboard Insider)
Standard & Poors has cut their debt rating on Clear Channel Outdoor Holdings to CCC+ from B- amid ongoing cash flow issues and debt being more at risk before their parent company iHeartMedia comes out of bankruptcy. Refinancing risks are high around $2.2B in senior subordinated notes due in March 2020, the firm notes, saying resolution there will change its developing outlook. […]
Wed, Jun 27, 2018 at 3:06 PM