Caribe Media Inc. Rating Lowered To 'D' After Publisher Files For Bankruptcy Protection
- ID: 1783013
- May 2011
- Standard & Poors
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Research type: News
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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