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Caribe Media Inc. Rating Lowered To 'D' After Publisher Files For Bankruptcy Protection
Standard & Poors, May 2011
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
San Juan, Puerto Rico-based yellow page publisher Caribe Media Inc. has filed for Chapter 11 bankruptcy protection. We are lowering our corporate credit and issue-level ratings on the company to 'D'. CHICAGO (Standard & Poor's) May 6, 2011--Standard & Poor's Ratings Services said today it lowered its corporate credit rating on Caribe Media Inc. to 'D' from 'CCC-'. We also lowered all of our issue-level ratings on the company to 'D'. All of our outstanding recovery ratings remain unchanged. 'The downgrade follows Caribe Media's announcement that it and certain of its affiliates have filed voluntary bankruptcy petitions to reorganize under the provisions of Chapter 11 of the U.S. Bankruptcy Code in the District of Delaware,' said Standard & Poor's credit...
Companies mentioned in this report are: Caribe Media Inc
Action: Downgraded
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