WSJ: S&P changes Univision ratings outlook to stable

"The rating agency said the junk-level rating is due to Univision's high debt since its 2007 leveraged buyout, its failure to sells assets as planned, continuing declines in television and radio advertising, and ad prices that don't match its audience share.

Univision's position as the dominant U.S.-based Spanish-language TV and radio broadcaster, its long-term contracts to purchase popular TV programming, and the growing Spanish-language population and audience don't offset its problems, S&P added."

http://online.wsj.com/article/BT-CO-20090624-714486.html