Liberty Credit Rating May Be Cut to ‘Junk’
Liberty Media Corp.’s credit rating may be cut by Standard & Poor’s to non-investment grade because, the ratings firm said, Chairman John Malone has created “uncertainty” with talk of splitting the company.
Malone had said in an interview with the Wall Street Journal that he might split the company’s entertainment networks and interactive businesses into separate companies.
“There’s a chance the new structure may not be as good for bondholders,” S&P; analyst Heather Goodchild said.
Shares of Englewood, Colo.-based Liberty rose 8 cents to $10.60 on the NYSE.
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