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S&P revises Viacom outlook to stable on reduced leverage

S&P Global Ratings on May 21 revised Viacom Inc.'s outlook to stable from negative and affirmed the company's BBB- long-term issuer credit rating and A-3 short-term rating.

The ratings are attributed to Viacom lowering its adjusted debt-to-EBITDA ratio to 3.2x as of March 31, from 3.6x a year ago. Viacom also has stabilized EBITDA over the past several quarters and used its discretionary cash flow to pay down debt, Ratings said.

The stable outlook on the media company reflects Ratings' view that Viacom will preserve its position in the TV ecosystem by maintaining distribution across traditional and virtual platforms. Ratings also expects that the company will generate positive EBITDA and cash flow at its Paramount Studio while maintaining adjusted leverage below 3.25x.

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.