S&P cuts Dun & Bradstreet

Standard & Poor's said it lowered its long-term ratings on Dun & Bradstreet Corp. one notch to BBB+ from A- and removed the rating from CreditWatch, where they were placed with negative implications on May 23. The outlook is stable.

"We affirmed our A-2 short-term rating on the company. We lowered the rating on D&B's notes due 2013 and 2015 to BBB+ from A-," said S&P credit analyst Jeanne Shoesmith in a news release.

The agency said the downgrade reflects S&P's expectation that leverage will remain above 2.5x, based on the company's plans to direct the majority of discretionary cash flow to share repurchases.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.