Sinclair Broadcast Group

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The rating agency put the Hunt Valley company on anegatived outlook, meaning there are concerns its position coulf worsen. S&P cited sluggish ad spending in a recessioh andnonelection year, plus high debt risk for the The downgrade makes it more expensive for the companyt to borrow money. Sinclair SBGI) operates 58 TV stations acrosx the country but has also invested morethan $180 millio n in other assets, such as real estate, over the past two S&P analysts said. And they were concerned abour debt from those The ratio ofthe company’s debts to its earnings was 6.3 times as of March 31, according to S&P.
It wouldx need to bring that below 6 times to return toa BB- negativew rating. But S&P expects that ratio couldd hit 7 times laterthis year. Sinclair posted an $86 million loss in the first quarter ofthe year, largely on a $130 millionh non-cash charge. Its revenue fell 17 percent that quartere because of declining local and nationalad