Central European Media Falls After S&P Cuts Rating: Prague Mover

Central European Media Ltd. fell to the lowest on record after Standard & Poor’s cut the broadcaster’s B- rating.

The operator of television channels in central and eastern Europe, also known as CME, fell 3 koruna, or 3.2 percent, to 90 koruna in Prague trading. That’s the lowest level since June 2005 when the stock started trading.

Standard & Poor’s cut today the Bermuda-based CME’s rating to CCC+ with negative outlook from previous B- with stable outlook.

To contact the reporter on this story: Lenka Ponikelska in Prague at lponikelska1@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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