Overview -- Based on slower-than-anticipated growth in local and national ad revenues for 2012 and still aggressive debt balances, we expect U.S. TV broadcaster Belo's average eight-quarter trailing debt leverage ratio will remain above the 4x debt leverage threshold for an upgrade in 2012. -- We are affirming our ratings on Belo, including the 'BB-' corporate credit rating. -- We are revising our rating outlook to stable from positive, reflecting our revised expecta