Projo Biz Blog

Moody's Investors Services downgraded by one notch the corporate debt issued by Providence-based LIN Television Corp., the broadcasting company that owns WPRI-TV, Channel 12.

Moody's said, "The downgrade reflects Moody's expectation that LIN's cash flow will weaken significantly in 2009 due to declines in advertising spending resulting from continued softening of the U.S. economy and despite increases to contractual retransmission revenues and expected strategic cost cuts."

 Tags  LIN TV Moody's Investors Services

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