| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers R > Headlines for R.H. Donnelley Inc. > News item |
S&P downgrades Dex One
Standard & Poor's said it lowered its corporate credit rating on Dex One Corp. and related entities to SD from CC.
At the same time, S&P lowered the issue-level rating on Dex Media East Inc.'s $672 million term loan, Dex Media West Inc.'s $594 million term loan and R.H. Donnelley Inc.'s $866 million term loan due 2014 to D from C.
The recovery rating on these loans remains at 5, indicating the expectation of modest (10% to 30%) recovery for lenders in the event of a payment default.
"The downgrade reflects the application of our criteria on subpar repurchase transactions, which we view as tantamount to a default," S&P credit analyst Chris Valentine said in a news release.
© 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.