CBS May Refinance 2010, 2012 Debt Maturities
May 07 2009 - 6:02PM
Dow Jones News
CBS Corp. (CBS) Chief Financial Officer Fred Reynolds said
Thursday that the media company may refinance its debt obligations
through 2012 if credit market conditions continue to improve.
On a conference call with analysts following the company's
first-quarter earnings release, Reynolds said CBS remains confident
that it can meet its financial obligations through 2012 without
issuing more debt. But he added that in recent weeks, credit
markets have become more "accommodating."
If that trend continues, Reynolds said CBS may refinance its
debt to longer-dated bonds. Some analysts have questioned whether
CBS can meet its obligations through 2012 if recent ad trends
continue.
-By Nat Worden, Dow Jones Newswires; 201-938-5216;
nat.worden@dowjones.com