Apr 24, 2009
Downgrades at NYT, McClatchy
Moody's has lowered the debt ratings for two of the country's largest newspaper companies, McClatchy and New York Times Co. The New York Times, which suffered a $74.5 million loss in the first quarter, drops to a B1 rating. McClatchy, which lost $37.5 million in the first three months of the year, slipped to Caa1.