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Moody's rating action reflects a base expected loss of 5.4% of the current pooled balance, compared to 5.2% at Moody's last review. For provisional ratings, this announcement provides certain regulatory disclosures in relation to the provisional rating assigned, and in relation to a definitive rating that may be assigned subsequent to the final issuance of the debt, in each case where the transaction structure and terms have not changed prior to the assignment of the definitive rating in a manner that would have affected the rating.
Moody's Investors Service ("Moody's") affirmed Meredith Corp. ("Meredith" or the "company") B1 Corporate Family Rating (CFR) and B1-PD Probability of Default Rating (PDR) following the company's announcement of a downward revision to FY 2020 guidance due to expectations that revised operating performance guidance will provide Meredith with sufficient free cash flow and debt repayment opportunities over the next 12-18 months, as well as the company's publicly communicated commitment to target leverage of 2x Total Debt to EBITDA (excluding Moody's standard adjustments).
Rating Action: Moody's affirms seven classes of WFCM 2016- C33. Global Credit Research- 14 Jun 2019. Approximately $531 million of structured securities affected.
The New York estate built a century ago by a daughter of slaves who made her fortune selling hair care products for black women has been purchased by an organization founded by the owner of Essence magazine. The National Trust for Historic Preservation announced Thursday that Madam C.J. Walker's century-old Italianate villa-style mansion in New York City's northern suburbs was recently bought by the New Voices Foundation, started by Richelieu Dennis, founder of a skin and hair care products company. Walker was born Sarah Breedlove in Louisiana in 1867 to former slaves.