Lee Shares Rise After Company Announces Refinancing Plan

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By: stltoday.com

Stock in Lee Enterprises rose 5 percent Monday after the company announced plans to refinance $1.05 billion in loans.

The publisher, owner of the St. Louis Post-Dispatch and other newspapers, said it would issue bonds to replace virtually all its debt. Moody's Investor Services rated the company Caa1 - far below investment grade territory - on Monday.

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