New York, May 19, 2016 -- Moody's Investors Service ("Moody's") downgraded Dex Media, Inc.'s ("Dex" or "the company") Probability of Default rating to D-PD from Ca-PD following the announcement on May 16, 2016 that Dex filed a voluntary petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code to implement pre-packaged plans of reorganization. Dex expects to complete the restructuring during the third quarter of 2016. The outlook remains negative.

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