S&P Global Ratings on Aug. 20 affirmed its B+ issuer credit rating on Entercom Communications Corp. and revised the outlook on the company to stable from negative.
The ratings are attributed to Entercom's stabilized revenue growth over the past three quarters. The rating agency noted that legacy CBS Radio stations outperformed Entercom's legacy stations in the second quarter of 2019.
The outlook reflects S&P's expectation that the company will improve leverage to below 5x by year-end.
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.
