S&P puts NY Times Co on review for possible upgrade
NEW YORK, April 22 |
NEW YORK, April 22 (Reuters) - Standard & Poor's on Thursday placed The New York Times Co's (NYT.N) rating on review for a possible upgrade, citing an improving environment for newspaper revenue.
The agency rates the newspaper at B, or five notches into "junk" status.
The action "reflects our view that The New York Times may be able to achieve and sustain credit measures and a liquidity profile appropriate for a higher rating," S&P said in a note. (Reporting by Ciara Linnane)
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