Reuters: Financial Services and Real Estate: TEXT-S&P raises Broadcaster ITV to 'BB+'

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TEXT-S&P raises Broadcaster ITV to 'BB+' Mar 30th 2012, 09:06 Fri Mar 30, 2012 5:06am EDT -- U.K. broadcaster ITV PLC continued to strengthen its credit metrics in 2011, supported by a stable advertising environment and almost GBP340 million of debt reduction through bond buybacks. -- We are therefore raising our issuer and unsecured debt ratings on ITV to 'BB+' from 'BB'. -- The stable outlook reflects our view that ITV's credit measures will remain commensurate with the current rating even in a more challenging economic environment. On March 30, 2012, Standard & Poor's Ratings Services raised to 'BB+' from 'BB' its long-term corporate credit rating on U.K. broadcaster ITV PLC. We affirmed the 'B' short-term corporate credit rating.

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