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Moody's cuts Dex One to B3
Moody's Investors Service said it downgraded the corporate family rating for Dex One Corp. to B3 from B1.
Moody's said the downgrade reflects its doubts that the company will be able to transition its business away from a reliance on print directories quickly enough to stabilize its revenues and earnings.
Consequently, Moody's said, it expects that the relatively robust levels of free cash flow that the company is generating will decline at an accelerating pace over time.
The outlook remains negative.
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