Our FRISK® Stress Index indicates that radio broadcasting stations widely remains a high risk industry. U.S.-based Cumulus Media Inc. (Nasdaq: CMLS), which currently holds a worst possible FRISK® score of “1,” is one of the most challenged names. Cumulus’ FRISK® score of “1” indicates the business has a 10% to 50% chance of bankruptcy over the next twelve months.
This High Risk Report will present a combination of factors behind CreditRiskMonitor's assessment of Cumulus Media's bankruptcy risk. This distressed scenario is supported by, but not limited to, the company's inflating cost structure and weak balance sheet. Bankruptcies consume a trade creditor's valuable time and money, and you should not be one of them. As Cumulus Media is showing signs of increasing financial distress, now is the time to start preparing for a possible “worst case scenario.”
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About High Risk Reports
CreditRiskMonitor’s High Risk Reports feature companies that are exhibiting a significantly high level of financial distress, as indicated by our proprietary FRISK® score.
The reports highlight the factors that have pushed a company's score lower on the "1" (worst) to "10" (best) FRISK® score, which is 96% accurate in predicting bankruptcy over a 12-month period. The High Risk Reports also includes analysis on financial indicators such as the company’s DBT index, stock performance, financial ratios and how it is performing relative to its industry peers.
The ultimate goal of the High Risk Report series is two-part: provide an early warning for those doing business with an increasingly distressed company and inform of the many signals that should be examined when assessing financial risks.