Moody's lowers SuperMedia

Moody's Investors Service said it downgraded SuperMedia Inc.'s probability of default rating to D-PD from Caa3-PD, corporate family rating to Ca from Caa3 and associated debt ratings.

The downgrades follow SuperMedia's and Dex One Corp.'s March 18 announcements that each company filed a voluntary petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code to implement pre-packaged plans of reorganization.

The companies intend to use this strategic process to facilitate the completion of their merger announced on Aug. 21, 2012.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.