S&P puts Time Warner’s long-term ratings on CreditWatch

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New York—Standard & Poor’s ratings service on Wednesday placed its long-term ratings on Time Warner on CreditWatch with negative implications.

S&P credit analyst Heather Goodchild said in a media release that the move acknowledges Time Warner’s recent statement that it is redefining its capital allocation to support “more leverage, which could result in a gross debt-to-EBITDA [earnings before interest, taxes, depreciation, and amortization] ratio above our 2.75 times gross debt-to-EBITDA target for the company at the current rating level.”

As of Sept. 30, Time Warner had approximately $20.4 billion in debt outstanding.

—Matthew Schwartz

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