S&P confusion I don't understand just 6 days ago this same S&P analyst Madhav Hari said:
“It is not like print will go off tomorrow. We need to see what is the pace of deceleration,”
“Suspension of dividend is consistent with company’s desire to preserve cash,”
“It’s bad, but it didn’t get worse,” “It is comforting that the erosion (in overall business) was not worse than a lot of people had thought.
And now six days later she's saying:
"The downgrade follows Yellow Media's weak operating performance for the three months ended Dec. 31, 2011, which, combined with several corporate actions the company announced on Feb. 9, materially increase refinancing risk, in our opinion"So my question is what happened in the 6 days for them to fully downgrade rather than just continue keeping an eye on YLO's performance? And if it's because of the secrecy of the $239 million withdrawal wouldn't it be in Tellier's and the rest of YLO management's best interest to address this concern?