DBRS Discontinues Ratings on Liberty Media

DBRS has today discontinued its rating of Liberty Media LLC (Liberty Media or the Company), a wholly owned subsidiary of Liberty Media Corporation.

The rating has been discontinued without resolution of the Under Review with Negative Implications status that was initiated on September 4, 2008, as Liberty Media has not completed its distribution of the shares of Liberty Entertainment to its shareholders. DBRS continues to believe that this transaction would have resulted in DBRS lowering Liberty Media’s rating from the current BBB (low) level into the BB range, given the lower asset coverage.

DBRS notes that today’s action is unrelated to Liberty Media’s credit profile.

Notes:
The applicable methodology is Rating Media and Entertainment, which can be found on our website under Methodologies.

This is a Corporate (Publishing & Media) rating.