The Thread Formerly Known as No Rest For The Wicked Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Tim Luke who wrote (46577)	5/27/1999 5:47:00 PM
From: Tim Luke	Read Replies (4) of 90042

Thursday May 27, 5:22 pm Eastern Time Moody's may raise Outdoor Systems rating (Press release provided by Moody's) NEW YORK, May 27 - Moody's Investors Service placed the B1 ratings on Outdoor Systems' $250 million of 9.375% senior subordinated notes due 2006 and the $500 million of 8.875% senior subordinated notes due 2007 and the Ba2 rating on the $1.04 billion in credit facilities on review for possible upgrade following the announcement that the company will be acquired by Infinity Broadcasting Company. Infinity Broadcasting agreed to buy the stock of Outdoor Systems and assume $1.8 billion of debt in a transaction valued at approximately $8.3 billion. The review of the ratings on Outdoor Systems' existing debt will focus on the degree of explicit and/or implicit support provided by the Infinity ownership and the benefits that may accrue to Outdoor Systems' financial performance. Outdoor Systems is anticipated to be a wholly owned subsidiary of Infinity. Phoenix, Arizona-based Outdoor Systems, Inc., is the largest out-of-home media company in the United States, Mexico and Canada, operating poster, bulletin, transit shelter and subway displays.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next