Moody's cuts Washington Post

Moody's Investors Service said it downgraded Washington Post Co.'s senior unsecured rating to Baa1 from A3.

The company's Prime-2 commercial paper rating is not affected.

The outlook is negative.

Moody's said the downgrade reflects the ongoing earnings pressure at Kaplan due to enrollment declines and competitive pressures and Moody's view that Washington Post's credit metrics will remain at weaker levels.

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