Fairfax Media Limited Statement

FAIRFAX MEDIA LIMITED STATEMENT 

 

SYDNEY, 6 July 2012: Fairfax Media Limited [ASX:FXJ] notes that Standard & Poor’s today affirmed the Company’s ‘BB+’ credit rating and revised its outlook to negative from stable. 

The Company confirms that this has no impact on its existing borrowings or cost of debt. The Company remains well within compliance with its debt covenants. 

The Company provided guidance on 12 June that it expected EBITDA for fiscal year 2012 to be circa $500 million. 

As foreshadowed in the announcement of 12 June, the maturing Eurobond facility was fully redeemed on 15 June. As at the end of its fiscal year (24 June) net debt was $813 million. This excludes the $108 million of debt carried by Trade Me Limited, a separately listed entity. 

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Contacts:
Brad Hatch
Manager of Communications
+61 2 9282 2168