August 15, 2012: The stock price for The Dun & Bradstreet Corporation (NYSE:DNB) rose in value by 2.03% by mid-day trading notwithstanding a ratings downgrade by Fitch Ratings.
Fitch Ratings has downgraded the Issuer Default Rating (IDR) of Dun & Bradstreet Corp. (D&B) to ‘BBB+’ from ‘A-’. The Rating Outlook has been revised to Negative from Stable. The downgrade and outlook reflects the company’s announcement to accelerate share repurchases coupled with D&B’s willingness to increase debt to fund a portion of these share buy backs.
Source: Yahoo Finance