Thursday, October 23, 2008

It's Official: The New York Times is 'Junk'

Standard & Poor's today downgraded bonds issued by The New York Times Company to BB-, a junk grade.

Moody's is expected to follow shortly.

RELATED LINK: Sulzberger: "Look Ma, I Shrunk The Times!"

The rating agencies seem to always merely confirm what everyone else already knows.

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