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Keyword: mnibondratingdropped

S&P plans to rate McClatchy's assumed debt "BBB"

04/24/2006 1:21:57 PM PDT · by Grampa Dave · 10 replies · 281+ views
Yahoo. reuters.com ^ | Apr 24, 2006 | Reuters Staff

S&P plans to rate McClatchy's assumed debt "BBB" Mon Apr 24, 2006 1:15 PM ET NEW YORK, April 24 (Reuters) - A rating on the senior unsecured debt assumed by McClatchy Co. through the acquisition of Knight Ridder Inc. will be lowered by Standard and Poor's following the close of the buyout, the rating agency said on Monday. S&P said it will rate the senior unsecured debt "BBB," the second-lowest investment grade rating. "This announcement follows a clarification to the terms of McClatchy's planned $3.75 billion senior credit facilities, which will be used to help fund the acquisition of Knight...

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