Moody's may downgrade Cumulus

On the heels of Cumulus Media announcing a private equity buyout, which will likely boost its leverage, Moody's Investors Service has placed the company's ratings on review for possible downgrade. "The review will focus on the company's pro forma capital structure and credit metrics as well as its future business strategy in the context of the secular pressures on and modest growth prospects for the mature radio broadcasting industry," Moody's said.

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