Investment rating boost for BSkyB

BRITISH Sky Broadcasting Group Plc, the British pay-television firm controlled by Rupert Murdoch, had its credit rating raised to investment grade by Standard & Poor after it boosted profit and cut debt.

BSkyB’s long-term credit rating was changed to BBB-, the lowest investment grade level, from BB+, S&P said.

“BSkyB’s solid operating performance, profitability, and cash generation have led to consistent reductions in its debt burden,” S&P’s credit analyst Trevor Pritchard said.