Moody’s trims CareerBuilder

Moody's Investors Service said it downgraded CareerBuilder, LLC's ratings, including its corporate family rating to B3 from B2 and its probability of default rating to B3-PD from B2-PD.

At the same time, Moody's downgraded the instrument ratings on the company's senior secured first-lien credit facilities to B3 from B2.

The outlook is stable.

The agency said the downgrade to B3 largely reflects an expectation for CareerBuilder's revenue to continue to decline over the next 12 months, as Moody's expects the operating environment to remain highly competitive, and the company's aggressive financial policies as evidenced by its intention to pay a $30 million dividend with available cash on hand.

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