Tuesday, October 21, 2008

S&P upgrades McClatchy from "sell" to "hold"

Robert MacMillan brings word that S&P has upgraded its assessment of the beleaguered McClatchy company, from "sell" to "hold."

Let's see... advertising revenue is in the toilet, circulation is falling, McClatchy's online presense has slipped... What are they smoking at S&P?

Just three weeks ago, S&P downgraded McClatchy's credit rating deeper into junk bond status. So what gives?

1 comment:

Anonymous said...

...Hmmm ? S and P ? Would that be the Standard & Poors that rated AIG's credit default swaps " AAA ", when they were really uncollateralized toxic waste? I'd sooner trust a ouija board.