S&P Global Ratings assigned a B+ corporate creditrating.
The rating agency also assigned BB- issue-level rating to thecompany's planned $250 million revolving credit facility due 2021 and $1billion term loan due 2023. The company's proposed $460 million senior notesdue 2024 were assigned a B- issue-level.
The outlook on CBS Radio is stable.
S&P said that the B+ corporate credit rating reflects,among other things, the company's critical mass as one of the largest radiobroadcasters in the U.S., and its favorable large market presence.
CBS Corp.plans to separate CBS Radio through a tax-free spinoff, and plans to sell allof CBS Radio shares that it will indirectly own upon the completion of theinitial public offering after the "lock-up" period. CBS Radio filedfor an IPO of itscommon shares in July.
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