Standard & Poor's slashed New York Times rating to junk

The struggling New York Times is really in deep doo doo this time.

All together now:

The old gray lady

she ain’t what she used to be

ain’t what she used to be …

That was pretty good. Everyone was right on key.

Can’t say that for the Times. She hasn’t been “on key” for quite some time now.




The New York Times was once a proud lady - called the “gray lady” because of her staid appearance with no color and very few pictures during her heyday.

Standard & Poor's on Thursday slashed its ratings on the New York Times into junk territory and cited concerns about the newspaper publisher's revenue outlook, after it posted a third-quarter loss.

Moody's Investors Service also said it may follow the move, adding the publisher faces risks in refinancing its debt.

It’s just a matter of time before the Times ceases print publication and will be available on the Web only.

Then the Times won’t even be useful as a fish wrap or bird cage liner.

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