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DBRS drops Yellow Media to CCC
DBRS said it downgraded Yellow Media Inc.'s issuer rating to CCC from B (low), its medium-term notes rating to CCC from B (low), with an RR4 recovery rating, and its exchangeable subordinated debentures to CC (high) from CCC, with an RR6 recovery rating.
The trend remains negative.
The decline in Yellow Media's print revenue continues and is expected to be even more rapid and enduring than anticipated, according to the agency.
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