Moody’s outlines ITV investment grade requirements

Moody’s has outlined the criteria that ITV would need to fulfil in order for it to win an ‘investment grade’ rating from the credit ratings agency.

It says that the UK commercial broadcaster would need to strengthen its content division in turn diversifying its revenue base further. “Key to success in this strategy is expansion of its own content business, creating well established programme brands; owning the rights to content on multiple platforms and being able to monetise this content across the globe,” noted Moody’s analyst Gunjan Dixit.

Moody’s added that the wider free-to-air TV business should remain in a ‘fair condition’ in the medium term and ITV should continue to grow underlying TV advertising revenues.