NEW YORK--(BUSINESS WIRE)--Fitch Ratings has published the first edition of its annual 'Media & Entertainment Handbook' report. This year, Fitch has separated the company-specific analysis from the Credit Encyclo-Media (which has also published today) and published the Media and Entertainment Handbook.
The new Media & Entertainment Handbook includes rating drivers, an event risk analysis covering 11 event risk categories for each rated issuer, excerpts from company transcripts relating to financial policy, 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, Gannett, Nielsen, R.R. Donnelley & Sons, Tribune Media, and Warner Music Group.
The Fitch-rated Media & Entertainment portfolio includes:
Diversified Media
--Bertelsmann SE & Co. KGaA ('BBB+'; Outlook
Stable)
--British Sky Broadcasting Group plc ('BBB+'; Rating Watch
Negative)
--CBS Corporation ('BBB'; Outlook Stable)
--Cox
Enterprises ('BBB+'; Outlook Stable)
--Discovery Communications LLC
('BBB'; Outlook Stable)
--NBCUniversal Media LLC ('A-'; Outlook
Stable)
--Liberty Interactive LLC ('BB'; Outlook Stable)
--Twenty-First
Century Fox, Inc. ('BBB+'; Outlook Stable)
--Time Warner Inc.
('BBB+'; Outlook Stable)
--Viacom, Inc. ('BBB+'; Outlook Stable)
--Vivendi
SA ('BBB'; Outlook Stable)
--The Walt Disney Company ('A'; Outlook
Stable)
Publishing, Printing, Outdoor, TV and Radio Broadcasting
--iHeartCommunications,
Inc. ('CCC'; Outlook Negative)
--Clear Channel Worldwide Holdings
Inc. ('B'; Outlook Stable)
--Houghton Mifflin Harcourt Publishers,
Inc. ('B+'; Outlook Stable)
--McGraw-Hill Global Education
Holdings, LLC ('B+'; Outlook Stable)
--McGraw-Hill School Education
Holdings, LLC ('B'; Outlook Stable)
--Univision Communications
('B'; Outlook Stable)
Movie Exhibitors
--AMC Entertainment ('B'; Outlook Positive)
--Regal
Entertainment ('B+'; Outlook Stable)
Professional Publishers, Business Products/Services, Ad Agencies
--The
Dun and Bradstreet Corporation ('BBB'; Outlook Stable)
--The
Interpublic Group of Companies ('BBB'; Outlook Stable)
--McGraw
Hill Financial Inc. ('BBB+'; Rating Watch Negative)
--Pitney Bowes
Inc. ('BBB-'; Outlook Stable)
--Reed Elsevier PLC ('A-'; Outlook
Stable)
--Thomson Reuters Corporation ('BBB+'; Outlook Stable)
--Verisk
Analytics Inc. ('A-'; Outlook Stable)
--WPP plc ('BBB+'; Outlook
Stable)
The report, 'Credit Encyclo-Media', is available at 'www.fitchratings.com'.
Additional information is available at 'www.fitchratings.com'
Applicable Criteria and Related Research: Media and Entertainment
Handbook (Fitch's Comprehensive Credit Profile Analysis of Issuers
within the Media & Entertainment Sector)
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=787689
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