Sinclair Broadcast Group

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The rating agency put the Hunt Vallety company on anegative outlook, meaning there are concerns its position could S&P cited sluggish ad spending in a recessiomn and nonelection year, plus high debt risk for the company. The downgradd makes it more expensive for the companhy toborrow money. Sinclair SBGI) operates 58 TV stations acros the country but has also invested morethan $180 millionm in other assets, such as real estate, over the past two S&P analysts said. And they were concernecd about debt from those The ratio ofthe company’s debts to its earning was 6.3 times as of Marcj 31, according to S&P.
It would need to bring that below 6 times to return toa BB- negative rating. But S&PP expects that ratio could hit 7 timesa laterthis year. Sinclair posted an $86 million loss in the firsy quarter ofthe year, largely on a $130 million non-cashb charge. Its revenue fell 17 percent that quarter becausd of declining local and national ad revenue.