S&P cuts Deluxe, loan

Standard & Poor's said it lowered its corporate credit rating on Deluxe Entertainment Services Group Inc. to B- from B. The outlook is stable.

The agency said it also lowered its issue-level rating on Deluxe Entertainment's senior secured term loan to B from B+. The recovery rating on this debt remains unchanged at 2.

"The downgrade reflects Deluxe Entertainment's thin margin of compliance with financial covenants and the potential that discretionary cash flow could contract," said S&P credit analyst Tulip Lim in a news release.

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