NEW YORK, NY--Standard & Poor's Ratings Services today assigned its 'A' rating to the proposed $1.0 billion global notes due 2013 offered by The Walt Disney Co.The long-term corporate credit rating on Disney is 'A' and the rating outlook is stable. The rating reflects Disney's premier creative franchises, extensive media distribution, conservative capital structure, and good discretionary cash flow.
(Magic Kingdom attraction, top right photo)
We currently believe that the company's management of operating costs and capital spending will help support its discretionary cash flow and credit metrics, despite recessionary pressures on revenue.
Media Contact:
Mimi Barker, New York, (1) 212.438.5054, mimi_barker@standardandpoors.com
Analyst Contacts:
Deborah Kinzer, New York (1) 212.438.5229
Heather M Goodchild, New York (1) 212.438.7835
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