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S&P cuts Advanstar
Standard & Poor's said it lowered the corporate credit rating on Advanstar Inc.'s corporate credit rating to B- from B and placed the rating on CreditWatch with negative implications.
The agency lowered the secured first-lien rating to B from B+ and the secured second-lien rating to CCC from CCC+.
S&P said the downgrades are due to weak operating performance and thinning liquidity.
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