McClatchy’s Debt Rating Reduced by Moody’s
From Bloomberg News
McClatchy Co.’s debt rating was cut two notches to Baa3, the lowest investment grade, by Moody’s Investors Service because of the newspaper publisher’s plan to acquire Knight Ridder Inc. for $6.5 billion.
Moody’s also cut Knight Ridder’s long-term debt rating two notches to Baa3.
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