Stock up but Belo bond rating is downgraded to ‘junk’
Steve Safran October 1st, 2007
Belo stock (BLC) closed up 18.72% today following the announcement the company is splitting off its newspaper division into a separate, publicly-traded company. Shares of BLC closed at $20.61, up $3.25. On the debt side Fitch Ratings has downgraded Belo’s bonds to BB+, its highest level of “junk” status.
1 Comment Add your own
1. Rex | October 1st, 2007 at 7:06 pm
The best analysis piece I’ve seen so far was, somewhat strangely, on Poynter:
poynter.org/column.asp?id=101&aid=130760
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