S&P: R.H. Donnelley view negative

Standard & Poor's said it revised the outlook on R.H. Donnelley Corp. to negative from stable and affirmed the BB- corporate credit rating.

The outlook revision reflects concerns that the slowing economy could hurt operating performance at a time of limited flexibility in its leverage profile.

The issuer's total debt-to-EBITDA ratio was about 7 times at September.

S&P said the rating reflects the company's substantial consolidated debt levels resulting from major acquisitions over the past several years, while its incumbent market positions, stable cash flow generation and geographic and customer diversity are mitigating factors.

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