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Published on 3/31/2010 in the Prospect News Bank Loan Daily and Prospect News Distressed Debt Daily.

S&P cuts MEGA Brands

Standard & Poor's said it lowered the long-term corporate credit rating on MEGA Brands Inc. to D from CC and withdrew all ratings on MEGA Brands and its subsidiaries.

The actions follow the completion of the company's recapitalization on March 30, which included the repayment of debt below par, the agency said.


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