New York—Standard & Poor’s Ratings Services said late Friday that it has placed its ratings, including the “B” corporate credit rating, on online technology publisher CNET Networks on CreditWatch, with negative implications.
“The action is due to the possible acceleration of $125 million of debt maturities,” said S&P’s credit analyst Andy Liu, in a news release.
The potential acceleration of debt stems from CNET’s inability to file its quarterly 10-Q on time, S&P said. CNET has also received a delisting notice from the NASDAQ after it failed to file its 10-Q on time.
The resolution of the CreditWatch listing will depend on CNET filing the delayed financial reports, and S&P’s evaluation of CNET’s business performance at that time.