Moody’s Lifts NYT’s Credit Outlook

new-york-times-logo03112010.jpgYesterday, ratings agency Moody’s announced the outlook for The New York Times and its creditors was improving.

Raising its outlook to “stable” from “negative,” Moody’s said it expects that revenue at the Times Co. will decline less quickly (faint praise, but praise nonetheless), and cost reductions will help keep the company’s credit situation from deteriorating. The ratings agency maintained its B1 credit rating on the company. Moody’s says B1-rated bonds “are speculative and are subject to high credit risk.”