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Prospect News home > News index > List of issuers D > Headlines for Duane Reade, Inc. > News item |
S&P lowers Duane Reade
Standard & Poor's said it lowered the corporate credit rating on Duane Reade Inc. to CC from CCC+ and its subordinated debt rating to CC from CCC-.
The outlook is negative.
S&P said the actions follow the company's cash tender offer for the $195 million outstanding principal amount of 9¾% senior subordinated notes due 2011 at a discount.
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