Disney Rating Cut by S&P to 'BBB-Plus' - Reuters, 10/4/02

QuikQuote: NEW YORK, Oct 4 (Reuters) - Standard & Poor's on Friday cut Walt Disney Co.'s long-term credit rating for the second time in a year, saying a profit rebound for the No. 2 U.S. media company may take at least 12 months as theme park attendance and ABC TV network viewership sag.
S&P cut Disney's long-term credit and senior unsecured debt rating one notch to "BBB-plus," its third-lowest investment grade out of 10, from "A-minus." It affirmed Disney's "A-2" short-term ratings and its rating outlook is stable