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Tom.com May Get Credit Rating
August 28, 2003 |
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A Standard & Poor's official confirmed it is working on a rating for Tom.com. S&P's Equities Research has already issued an equity rating on the stock, which was upgraded to 'hold' two weeks ago.
The stock was downgraded to 'avoid' in July after Tom.com acquired loss-making CETV (Chinese Entertainment Television Broadcasting) from Turner Broadcasting. If all goes ahead, Tom.com will be the first media company in the Hong Kong Special Administrative region to receive a credit rating,and it will most likely receive a BBB rating.
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