Penton Media Removed From Watch List
July 2nd, 2008
Standard & Poors has removed Penton Media from its CreditWatch program and affirmed the company’s ‘B’ credit rating. This comes only a little more than a month after Penton called for a salary and hiring freeze, as well as launching a company-wide revenue reforecasting. Despite all this, Penton’s first quarter revenue increased 11 percent, presumably due to its merger with Prism Business Media Holdings. Folio (July 1, 2008)
Tags: Business & Finance, holdings, media, penton, poors, prism, standard