Radio & Television

Moody’s downgrades Canwest

TORONTO - Moody's Investors Service downgraded the probability of default rating for Canwest Media to 'D' in response to the company's announcement that it, along with its wholly-owned television affiliate companies and The National Post Company, had filed voluntary petitions for reorganization under the Companies' Creditors Arrangements Act. Canwest's corporate family rating was revised to Caa3, while its speculative grade liquidity rating remained unchanged at SGL-4 (weak)