Moody's says Clear Channel Outdoor's ratings won't be impacted by the bankruptcy filing of iHeart, but a separation from iHeart would be a credit positive
Moody's Investors Service (Moody's) says the Chapter 11 bankruptcy filing of iHeartCommunications, Inc. on March 14, 2018 is not expected to impact the current B3 CFR or negative outlook for Clear Channel Worldwide Holdings, Inc. (CCW), which is the rated entity of Clear Channel Outdoor Holdings...Clear Channel Outdoor Holdings is a holding company. Through its subsidiaries, the company provides clients with advertising opportunities through billboards, street furniture displays, transit displays and other out-of-home advertising displays, such as wallscapes, and spectaculars, which the company owns or operates in key markets worldwide. The company's business consists of two reportable operating segments: Americas outdoor advertising (Americas) and International outdoor advertising (International). The Americas segment consists of operations primarily in the U.S. and Latin America. The International segment includes the company's operations in Europe and Asia.
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