Standard & Poor’s says the Clear Channel offer is tantamount to a default.
S&P generally approves when companies strive to pay down debt and improve liquidity. But the ratings agency takes a very dim view of Clear Channel’s below-par value offers for its bonds. It drops the corporate credit ratings on Clear Channel and its parent CC Media Holdings to “CC”, says Reuters – ten notches below investment grade.
What a bunch of creepy crooks! If I decided to pay my bills by paying just half i'd be out of business in a minute. I agree with S&P. The pathetic CC offering is grounds for a DEFAULT.
Get out of the radio business Crap Channel!!!!!! Let us Honest broadcasters have our industry back!!!
S&P generally approves when companies strive to pay down debt and improve liquidity. But the ratings agency takes a very dim view of Clear Channel’s below-par value offers for its bonds. It drops the corporate credit ratings on Clear Channel and its parent CC Media Holdings to “CC”, says Reuters – ten notches below investment grade.
What a bunch of creepy crooks! If I decided to pay my bills by paying just half i'd be out of business in a minute. I agree with S&P. The pathetic CC offering is grounds for a DEFAULT.
Get out of the radio business Crap Channel!!!!!! Let us Honest broadcasters have our industry back!!!