More Bad News for the Orange County Register
Standard & Poors downgraded the credit rating for Orange County Register parent company Freedom Communications Inc., knocking it two notches from B+ to B-.
According to Mary Ann Milbourn’s post on the topic:
It was the second time this year that S&P downgraded Freedom’s credit rating.
Douglas S. Bennett, Freedom’s chief financial officer, said the Freedom rating was part of an industrywide downgrade of newspapers and reflected a worst-case scenario for the company’s performance this year.
“It seems we’re being compared to a Tribune Co.
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