DBRS Downgrades Tribune’s Ratings to D

DBRS has today downgraded its Issuer Rating of Tribune Company (Tribune or the Company) to D from B (low). Additionally, DBRS has downgraded Tribune’s various instrument ratings to D. This rating action follows the Company’s announcement today of its voluntary restructuring under Chapter 11 of the U.S. Bankruptcy Code.

DBRS has also discontinued its recovery ratings (see report dated July 15, 2008 for previous recovery ratings). These recovery ratings had not included post-filing financing, which the Company has arranged as part of this filing.

Note:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is Publishing & Media which can be found on our website under Methodologies.
This is a Corporate rating.