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Mitchell Report
Written by Maury Brown   
Wednesday, 19 December 2007 11:08

MLBWhile last Thursday’s release of the Mitchell Report on performance-enhancing drugs (PEDs) in Major League Baseball was surely a dark day for baseball, it would seem that the outcome of the report does not impact how the financial world views MLB, as its credit rating has not been adversely impacted by the report. Today, Fitch Ratings reaffirmed the Major League Baseball Trust’s “A” rating. The MLB Trust is assigned a a $978 million variable funding note and a $389 million term note. As reported by The AP:

"Fitch's affirmation reflects continued trust performance within expectations as broadcast agreements with FOX Broadcasting Company, Turner Broadcasting System, and ESPN provide contractual revenue through the 2013 season," the company said.

"Fitch does not expect that reaction to the recently released Mitchell Report will have any meaningful or long term impact on the trust revenues that secure the notes issued by MLB Trust."

It should be noted that an “A” rating is not the highest credit rating that can be assigned, as “AAA” is deemed the highest.

Maury Brown

Maury Brown is the founder and president of the Business of Sports Network, which includes The Biz of Baseball, The Biz of Football and The Biz of Basketball (The Biz of Hockey will be launching shortly). He is also an author for Baseball Prospectus, Basketball Prospectus and is an available writer for other media outlets.

Brown's full bio is here. He looks forward to your comments via email and can be contacted through the Business of Sports Network.



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