$DXM S&P upgrade Research Update: Dex Media Inc. Assigned 'B-' Corporate Credit Rating; Outlook Negative

Research Update: Dex Media Inc. Assigned 'B-' Corporate Credit Rating; Outlook Negative

2590 words — Published May 17, 2013 Price $175.00  |  Buy this Report Now

About This Report

Abstract:

Dallas, Texas-based marketing solutions provider Dex Media Inc. is the parent of former Dex One Corp. and SuperMedia Inc., which emerged from bankruptcy protection in April 2013 and subsequently merged. We are assigning Dex Media Inc. our 'B-' corporate credit rating with a negative outlook. At the same time, we are assigning Dex Media's senior secured term loans due 2016 our 'CCC+' issue-level rating, with a recovery rating of '5', and assigning its senior subordinated notes due 2017 our 'CCC' issue-level rating, with a recovery rating of '6'. The negative outlook reflects our expectation that ongoing annual revenue declines in the mid-teens percentage rate, and that steady EBITDA margin erosion could negatively affect the company's creditworthiness and ability to meet

Brief Excerpt:

RESEARCH Ratings Definitions PDF Research Update: Dex Media Inc. Assigned 'B-' Corporate Credit Rating; Outlook Negative Publication date: 17-May-2013 Primary Credit Analyst: Minesh Patel, New York 212-438-6410; minesh.patel@standardandpoors.com...

http://www.alacrastore.com/research/s-and-p-credit-research-Research_Update_Dex_Media_Inc_Assigned_B_Corporate_Credit_Rating_Outlook_Negative-1133910