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MDC Partners Inc. -- Moody's downgrades MDC Partners' CFR to B3 from B2, senior unsecured notes affirmed at B3; outlook remains stable

Moody's Investors Service (Moody's) downgraded MDC Partners Inc.'s (MDC) corporate family rating (CFR) to B3 from B2 and the $900 million senior unsecured note was affirmed at B3. MDC also amended its revolving credit facility and increased the total leverage ratio to 6.25x from 5.5x until it reverts back to 5.5x in Q1 2021 and reduced the size of the revolver to $250 million from $325 million.