Moody's affirms Meredith ratings following FY 2020 guidance; outlook stable.
Rating Action: Moody's affirms Meredith ratings following FY 2020 guidance; outlook stable. Global Credit Research- 13 Sep 2019. New York, September 13, 2019-- Moody's Investors Service affirmed Meredith Corp. B1 Corporate Family Rating and B1-PD Probability of Default Rating following the company's announcement of a downward revision to FY 2020 guidance due to expectations that revised operating performance guidance will provide Meredith with sufficient free cash flow...Meredith is a media company. The company is engaged in providing consumers with content and delivering the messages of its advertising and marketing partners. The company operates two business segments: national media and local media. The company's national media segment includes national consumer media brands delivered via multiple media platforms including print magazines, digital and mobile media, brand licensing activities, database-related activities, affinity marketing, and business-to-business marketing products and services. The company's local media segment consists of television stations located across the United States in markets with related digital and mobile media assets.
Moody's Investors Service is a leading provider of credit ratings, research, and risk analysis. Moody's commitment and expertise contributes to transparent and integrated financial markets, protecting the integrity of credit. Our ratings and analysis track debt covering more than:
- 130 countries
11,000 corporate issuers
21,000 public finance issuers
76,000 structured finance obligations
Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Such independent credit ratings and research also contribute to efficiencies in fixed-income markets and other obligations, such as insurance policies and derivative transactions, by providing credible and independent assessments of credit risk.
Moody’s default studies validate our predictive ratings. Our published research and investor briefings draw thousands of attendees each year and keep investors current with the rationale underlying our credit opinions.
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