Moody's downgrades Dotdash Meredith

Moody's Investors Service said it downgraded Dotdash Meredith Inc.'s corporate family rating to B2 from B1, probability of default rating to B2-PD from B1-PD and senior secured credit facilities ratings to B2 from B1.

“The ratings downgrade reflects Moody's expectation that Dotdash Meredith will experience delayed deleveraging and weaker-than-expected earnings over the next 12-18 months, chiefly due to our current expectation that the US economy will likely contract in a couple of quarters of 2023. The recessionary pressures combined with rising interest rates and high inflation will likely lead to reduced consumer spending on discretionary products and services as well as a meaningful slowdown in advertising revenue growth,” Moody’s said in a press release.

The outlook remains stable.

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