Merger debt monitored

Standard & Poor’s Corp. will continue to monitor the credit situation of Paramount Communications, Viacom Inc. and Blockbuster Entertainment with negative implications.

The agency said, however, the proposed merger structure of the three suggests a “BB+ senior rating is a more likely outcome than a BBB-.” The current combined debt outstanding of all three companies totals $ 1.6 billion.

S&P affirmed QVC’s BB+/BB- rating on a $ 400 million mixed shelf registration.

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