Moody's: Trader view to negative

Moody's Investors Service said it affirmed Trader Corp.'s B3 corporate family rating, B3-PD probability of default rating, Ba3 senior secured revolving facility rating, B3 senior secured notes rating and SGL-3 speculative grade liquidity rating, and changed the outlook to negative from stable.

"The outlook change to negative reflects weaker top line growth expectations as digital revenue is not expanding sufficiently to compensate for the decline in print-based revenue," Peter Adu, Moody's lead analyst for Trader, said in a news release.

"As a result, Trader's profitability is not likely to improve and leverage is expected to remain around 8x through the next 12 to 18 months, which is not supportive of the B3 CFR," Adu added in the release.

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