Moody's lowers Dex One's outlook to negative

Moody's Investors Service said it changed Dex One Corp.'s outlook to negative from stable.

The change is based on the agency's concerns that the pace of decline in revenue and new orders (as indicated by the company's advertising sales), which is faster than Moody's had anticipated, will persist despite a recovery in overall U.S. advertising spending.

"The directory publishing business has been left out of the mild recovery that has occurred within the U.S. print advertising industry," commented Moody's senior vice president Dennis Saputo in a news release.

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