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S&P cuts Workflow Management
Standard & Poor's said it lowered the corporate credit rating on Workflow Management Inc. to D from CCC and its $40 million secured revolving credit facility and $275 million first-lien term loan to D from B-, and $140 million second-lien term loan to C from CC.
The actions stem from the company's decision to withhold its $6.875 million quarterly amortization payment on its first-lien term loan due Dec. 31, the agency said.
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