Moody's: Dex One, SuperMedia unchanged by merger

Moody's Investors Service said that Dex One Corp. and SuperMedia Inc.'s announcement that their boards of directors have approved a definitive agreement that the companies will combine in a merger does not affect the ratings of either issuers.

The transaction, which must be approved by both companies' shareholders and lenders, is expected to close in the fourth quarter of 2012.

The combined companies estimate annual expense synergies of $150 to $175 million by 2015 as well as preserved tax attributes of as much as $1.8 billion to improve cash flow.

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