 Concurrently, Moodys has affirmed the companys B1 corporate family rating CFR and its B1-PD probability of default rating PDR. The change in outlook to stable reflects our expectation of a weaker TV advertising market owing to the coronavirus outbreak and subsequent global macroeconomic recession, which has removed the possibility of a rating upgrade in the near term, says Víctor García Capdevila, a Moodys AVP-Analyst and lead analyst for CME. 