Moody’s downgraded R.H. Donnelley’s Corporate Family Rating today to Caa1 and its Probability of Default Rating to Caa2. That latter rating “reflects Moody’s concern that a pre-packaged bankruptcy, distressed exchange and/or other restructuring measures likely represent the optimal solution to re-align the company’s over-leveraged balance sheet,” and that market conditions may now be ripe for [...]

DEX’s financial woes have worsened.  They’re now trading on the pink sheets. This is not to say that the yellow pages are dead– that would be too dramatic.  Rather, it’s a sign that these publishers haven’t been able to move to where their customers are now spending their time.  You want to be where your [...]

DEX is having some serious financial problems, given that their share price went from $60 to just pennies in the last few months.  If this is not a wake up call, not sure what is.  To be kicked off the NYSE for having your share price stay at under a dollar and for having a [...]

On October 7, 2008, Yellow Pages publisher, RH Donnelly laid off about 30 workers in Morrisville, NC, 46 in Bristol, TN and 12 others in Dunmore, PA.  Earlier this year, the company eliminated 240 positions through layoffs and attrition.  The company laid off 100 employees in 2002 amid declining sales.  At that time, they blamed [...]