If we were GM or GE or APPL, we'd shoot up 45% no sweat. These results may be the best in the industry, in fact, perhaps, in these dour times, the best in all of the United States of America. I'm selling my C and BAC and using the money to get NXST. I'm very pleases. Very pleased indeed. Dr. Flickbeard.
Nay my friend. This company, as opposed to McClatchy and others who are cutting jobs and looking to suck on a financial peach for nourishment - this company is preditorial and accusitional in that it is looking for companies to purchase - for after "dishes are done and the table wiped" of this recession/depression. TV isn't going away. People may not be able to read anymore but they still can watch stuff. No. No Chapter 11. It's not in the question. Ask those of us who work with the company or see the officials in the hallways. Buddy, you got your facts crooked.
Moody's Downgrades Nexstar's CFR to Caa1, PDR to Ca
Approximately $691 million of rated debt affected.
New York, March 17, 2009 -- Moody's Investors Service has downgraded Nexstar Finance Holdings, Inc.'s ("Nexstar") Corporate Family rating to Caa1 from B3 and its Probability of Default rating to Ca from B3 following the company's announcement that it has commenced a tender offer to exchange its cash-paying senior subordinated notes for new subordinated notes of similar amount and maturity, but which do not pay cash interest until January 2011. Moody's views this transaction, upon its assumed successful completion, as tantamount to a default. The proposed new exchange notes are not rated.
Moody's has taken the following rating actions:
Nexstar Finance Holdings, Inc.
Corporate family rating -- downgraded to Caa1 from B3
Probability-of-default rating -- downgraded to Ca from B3
11.375% senior discounts notes due 2013 -- downgraded to Ca (LGD 5, 84%) from Caa2 (LGD 6, 94%)
Nexstar Broadcasting, Inc. (including Mission Broadcasting, Inc.)
Revolving credit facilities due 2012 -- affirmed B1 (to LGD 2, 14% from LGD 2, 25%)
Senior secured term loans due 2012 -- affirmed B1 (to LGD 2, 14% from LGD 2, 25%)
7% Senior subordinated notes due 2014 -- downgraded to Ca (LGD 4, 55%) from Caa1 (LGD 5, 74%)
Nexstar's SGL-4 liquidity rating is unaffected by this rating action
The rating outlook is negative.
Moody's does not rate Nexstar's privately-placed $36 million of senior subordinated notes due 2014.
I will be picking up some additional stock as well. I know the debt ratio still makes investors weary. I don't see this as a hinderance. Everyone has debt. They manager theirs well and are paying it down. This stock will be back up by 2011! Just wait and see. Then 2012 will be another great year, especially since it will be another presidential campaign year and polictical rebrodcast dollars.....