Scripps Networks Interactive shares are down about 2 percent today after Goldman Sachs lowered its rating of the lifestyle media company to neutral from buy.
Goldman cites weak Food Network ratings for the downgrade.
SNI shares were at $56.50 in early afternoon trading.
The company has traded as high as $66.33 in the last 52 weeks.
In addition to Food Netword, the Knoxville-based company’s brands include HGTV, Travel Channel, DIY Network, Cooking Channel and country music network Great American Country.
Cable network operator Scripps Networks Interactive Inc. received a solid thumbs up this week from Standard & Poor’s Ratings Services.
S&P upgraded its rating outlook on the Knoxville-based company to “stable” from “negative” based on its reduced debt and improved performance.
The agency also affirmed its “A-” corporate credit rating for Scripps Networks.
Fitch Ratings has upgraded Tennessee’s bond credit rating to AAA from AA, Sen. Randy McNally (R- Oak Ridge), chairman of the Senate finance committee, said today.
“This is not an upgrade for Tennessee relative to its peers in state government,” McNally told the Senate. “However, it is a more favorable rating as compared with non-governmental debt issuers, including those in the private sector.”
The rating is an assessment of the credit worthiness of the government’s debt issues.