Thursday, September 11, 2008

Cygnus defaults on debt; Moody's cuts ratings

I'm swamped today with business tasks and a family emergency. So I can't do much more than point to the news that Cygnus has defaulted on a portion of its debt. Credit-rating agency Moody's responded by cutting its rating on the B2B publisher.

I expect we'll see a lot more of this from those companies that are in similar trouble -- choking on debt, tied to expensive print production and dependent on a staff that has lost faith.

Click here to see an earlier post on Cygnus' financial woes.

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1 comment:

  1. Hi Paul. It sounds pretty tough in the US at the moment. Let us remember that it is cyclical - well let us hope it is cyclical! Digital has just hastened the I was reminded of this today through a comment from a B2B publisher in India who spoke from a very positive/precredit-crunch position.
    PS This little B2B network is still looking forward to your coverage of Folio. So don't forget to alert us!