Viacom on Cusp of Junk After Downgrade from Moody’s

Financial Times: Moody’s has cut its ratings on Viacom, putting the struggling media group just a notch above junk level. The downgrade comes a day after the owner of Paramount Pictures, MTV and Nickelodeon said it would tap debt markets and slashed its dividend payout by 50 percent to shore up its finances. Viacom is saddled with some $12 billion in debt.