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S&P lowers Dun & Bradstreet
Standard & Poor's said it lowered its long-term ratings on the Dun & Bradstreet Corp. to BBB from BBB+ and the short-term rating on the company to A-3 from A-2.
The outlook is stable.
At the same time, S&P lowered its issue-level rating on D&B's notes due 2015, 2017 and 2022 to BBB from BBB+.
S&P said the downgrade reflects its expectation that leverage will remain in the mid- to high-3x area over the next 18 months.
"We expect that the company will likely use all of its discretionary cash flow and additional debt to fund $490 million of share repurchases over the next 18 months," said S&P credit analyst Jeanne Shoesmith in a news release.
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