Moody's revises Trader to stable

Moody's Investors Service said it affirmed Trader Corp.'s B3 corporate family rating, B3-PD probability of default rating, Ba3 senior secured revolving facility rating, B3 senior secured notes rating and SGL-3 speculative grade liquidity rating and changed the outlook to stable from negative.

"The outlook change to stable reflects Trader's improved top line and EBITDA over the past few quarters as digital revenue has expanded to offset the decline in print-based revenue," Peter Adu, Moody's lead analyst for Trader, said in a news release. "As a result, Trader's leverage is expected to be maintained around 6x through the next 12 to 18 months, which will be supportive of the B3 corporate family rating."

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