Fitch released a report on McClatchy today, calling the outlook for McClatchy "negative." From a quick scan, the findings look the same as Fitch's October report, which I blogged about here.
In October, Fitch downgraded McClatchy's debt ratings. I don't see any additional downgrades from the October report.
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1 comment:
Whew, this is one bad report. If you hate McClatcy, you'll savor every word, but here is the big line....
"The ratings incorporate management’s success in reducing costs (including
headcount reductions). However, these cost reductions have not yet been able to
compensate for the revenue pressures."
In summary....NEXT VICTIMS, STAND...IN THE DOOR!
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