DBRS: Torstar on watch

DBRS said it has placed Torstar Corp.'s issuer rating of BBB under review with negative implications.

This action follows DBRS' update of the applicable industry methodologies for newspaper and magazine publishing as well as printing. For each of the two industries, the business risk rating was reduced to the BB (high)/BB range from BB (high).

According to the agency, the rationale for the change was based on DBRS' view that the highly competitive industries are being increasingly affected by the structural transition toward digital-based mediums.

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