Seat Pagine Gialle SpA http://www.alacrastore.com/company-snapshot/Seat_Pagine_Gialle_SpA-2519173 Friday, October 10, 2008 11:13:36 PM 2519173 Seat Pagine Gialle SpA en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/fitch/439296_pr_framefitch/439296_pr_framehtmlFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Bertelsmann AGBritish Sky Broadcasting Group plcDaily Mail and General Trust plcDogan Yayin Holding A.S.Hurriyet Gazetecilik Ve Matbaacilik A.S.ITV plcReed Elsevier plcSeat Pagine Gialle SpAThe Nielsen Company BVVivendiWolters Kluwer N.V.WPP Group plc8036079980361957804551728052060780520618806734218094665781377873819109278258887883361669868625429/29/2008 10:13:00 AM0100000001030000010307000104000085Press Release012777BSYBTGDMGODYHOLHURGZITVPGRELWKLWPP439296_pr_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/ccbn/T1914557ccbn/T1914557norm...Ladies and gentlemen, Seat Pagine Gialle welcomes you to the conference call on its first half #### financial results as of June ##, ####, hosted by the CEO, Mr. Luca Majocchi. The presentation will be followed by a Q&A session. A replay service will be available for one week. I now hand the conference over to Mr. Majocchi. Please go ahead, sir. ... 8/7/2008 11:05:00 PMSeat Pagine Gialle54.0000FinalSeat Pagine Gialle Q2 2008 Earnings Conference Call TranscriptSPG.MI4:00pm CETTranscriptT1914557Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/spcred/659134spcred/659134normThe latest Full Report from S&Pglobal7/11/2008 1:28:04 PM400Full Report659134ItalyPublishingEurope, Middle East, AfricaGlobal IssuersCorporationsMedia & EntertainmentFull ReportLeading position in the Italian classified directories market; Good operating flexibility; and Track record of progressive debt repayment. Tightening covenant headroom triggered by continuing operating margin pressure; Aggressively leveraged capital structure; Concentration of core earnings in Italy; and Weaker market positions and lower margins at the international business. The ratings on Italy-based classified directories publisher SEAT PagineGialle SpA reflect the group's deteriorating operating performance, which prevents it from improving credit measures by the end of 2008 and increases pressure on compliance with its demanding covenants. The ratings factor in the group's highly leveraged capital structure, which makes it heavily reliant on the continuing stability of its cash-generative classified directories businesses in the core Italian business. In 2007, the group derivedITA25401040 254010 2540 25SEAT PagineGialle SpA378151EUROMIDAFRPG@IMFULLGLOBISSCORPMediaCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/659136spcred/659136normThe latest Summary from S&Pglobal7/11/2008 1:28:04 PM175Summary659136ItalyPublishingEurope, Middle East, AfricaGlobal IssuersCorporationsMedia & EntertainmentSummaryThe ratings on Italy-based classified directories publisher SEAT PagineGialle SpA reflect the group's deteriorating operating performance, which prevents it from improving credit measures by the end of 2008 and increases pressure on compliance with its demanding covenants. The ratings factor in the group's highly leveraged capital structure, which makes it heavily reliant on the continuing stability of its cash-generative classified directories businesses in the core Italian business. In 2007, the group derived about 75% of its revenues and 85% of its EBITDA from Italian operations. The ratings are supported by Seat's leading position in the Italian classified directories market and its good operating flexibility. This is sustained by the stable, cash-generative profile of the group's core Italy-based business and byITA25401040 254010 2540 25SEAT PagineGialle SpA378151EUROMIDAFRPG@IMSUMMARYGLOBISSCORPMediaCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/bir/1230214bir/1230214normSEAT Pagine Gialle S.p.A.ItalyManufacturing: European leader and one of the main operators at world level in the sector of multimedia profiled advertising, offering print-voice-online directories, high-tech products for Internet and for satellite and ortophotometric navigation, as wel27415111409HKPG6/21/2008 6:43:31 AM1230214Company Profiles & FinancialsGale Company Profileshttp://www.alacrastore.com/storecontent/spcred/649360spcred/649360normThe latest Research Update from S&Pglobal5/20/2008 1:00:28 PM175Research Update649360ItalyPublishingEurope, Middle East, AfricaGlobal IssuersCorporationsMedia & EntertainmentResearch UpdateOn May 20, 2008, Standard&Poor's Ratings Services affirmed its 'BB–' long-term corporate credit rating on Italy-based classified directories publisher SEAT PagineGialle SpA. At the same time, the 'BB-' rating on the €1.3 billion bond was affirmed. Furthermore, the long-term and bond ratings were removed from CreditWatch, where they had been placed with negative implications on March 20, 2008, following the announcement of SEAT's 2007 results and its forecast for 2008. The outlook on SEAT is negative. The outlook primarily reflects our concern that SEAT's material downward revision of its EBITDA forecast for 2008--about 6% lower than the level in fiscal 2007--will result in tighter covenant headroom, compared with existing requirements, under the €2.6 billion credit facility starting fromITA25401040 254010 2540 25SEAT PagineGialle SpA378151EUROMIDAFRPG@IMRESUPDGLOBISSCORPMediaCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/649359spcred/649359normThe latest News from S&Pglobal5/20/2008 1:00:00 PM100News649359ItalyPublishingEurope, Middle East, AfricaGlobal IssuersCorporationsMedia & EntertainmentNewsLONDON (Standard&Poor's) May 20, 2008--Standard&Poor's Ratings Services said today that it affirmed its 'BB–' long-term corporate credit rating on Italy-based classified directories publisher SEAT PagineGialle SpA. At the same time, the 'BB-' rating on the €1.3 billion bond was affirmed. Furthermore, the long-term and bond ratings were removed from CreditWatch, where they had been placed with negative implications on March 20, 2008, following the announcement of SEAT's 2007 results and its forecast for 2008. The outlook on SEAT is negative. "The outlook primarily reflects our concern that SEAT's material downward revision of its EBITDA forecast for 2008--about 6% lower than the level in fiscal 2007--will result in tighter covenant headroom, compared with existing requirements, under theITA25401040 254010 2540 25SEAT PagineGialle SpA378151EUROMIDAFRPG@IMNEWSGLOBISSCORPMediaCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/ccbn/T1848311ccbn/T1848311norm...Ladies and gentlemen, Seat Pagine Gialle welcomes you to the conference call on its first quarter #### financial results as of March ##, ####, hosted by the chief executive officer, Mr. Luca Majocchi. The presentation will be followed by a Q&A session. A replay service will be made available for one week. I now hand over to Mr. Majocchi. Please go ahead, sir. ... 5/12/2008 3:05:00 PMSeat Pagine Gialle54.0000FinalQ1 2008 Seat Pagine Gialle Earnings Conference Call TranscriptSPG.MI4:00pm CETTranscriptT1848311Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/fitch/384548_report_framefitch/384548_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Seat Pagine Gialle SpA833616694/30/2008 10:17:00 AM01000000010300000103070001040000425Full Rating ReportPG384548_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/fitch/416446_pr_framefitch/416446_pr_framehtmlFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Seat Pagine Gialle SpA833616694/9/2008 10:20:31 AM0100000001030000010307000104000085Press ReleasePG416446_pr_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/moodys/PR_151338_807504162moodys/PR_151338_807504162htmlGlobal Credit Research Rating Action ## MAR #### Rating Action: Lighthouse International Company SA Moody's changes outlook on SEAT's ratings to negative Madrid, March ##, #### -- Moody's Investors Service today affirmed all of SEAT...Rating Action3/21/2008 12:27:49 AMLighthouse International Company SA807504162150.0000Newshtml600056720Seat Pagine Gialle S.p.a.Lighthouse International Company SA; Seat Pagine Gialle S.p.a.PR_151338_807504162Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/spcred/637606spcred/637606normThe latest Research Update from S&P3/20/2008 1:17:00 PMResearch Update175global637606ItalyPublishingEurope, Middle East, AfricaGlobal IssuersCorporationsMedia & EntertainmentResearch UpdateOn March 20, 2008, Standard&Poor's Ratings Services placed its 'BB-' long-term corporate credit rating and issue ratings on Italy-based classified directories publisher SEAT PagineGialle SpA on CreditWatch with negative implications. The CreditWatch placement follows the company's announcement that it has materially revised downward its EBITDA forecast for 2008. The new EBITDA guidance for 2008 is €610 million, about 6% lower than the level reported in fiscal 2007. This is expected to mainly reflect additional investments to boost the online business development in Italy and abroad to develop the company's Internet positioning. These investments are expected to have positive growth effects from 2009 onward. Lower EBITDA expectations raise concerns given the company's aggressively leveraged capital structure with total adjustedITA25401040 254010 2540 25SEAT PagineGialle SpA378151EUROMIDAFRPG@IMRESUPDLUXLighthouse International Co. S.A.378152EUROMIDAFRGLOBISSCORPMediaCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/ccbn/T1800581ccbn/T1800581norm...Ladies and gentlemen, Seat Pagine Gialle welcomes you to the conference call on its full year #### financial results as of December ##, #### hosted by the CEO, Mr. Luca Majocchi. A replay service will be made available for one week. I now hand over to Mr. Majocchi. Mr. Majocchi please go ahead. ... 3/19/2008 4:05:00 PMSeat Pagine Gialle54.0000FinalFull Year 2007 Seat Pagine Gialle Earnings Conference Call TranscriptSPG.MI10:00am CETTranscriptT1800581Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/fitch/382333_pr_framefitch/382333_pr_framehtmlBertelsmann AGDaily Mail and General Trust plcEMAP plcITV plcSeat Pagine Gialle SpAWPP Group plc8036079980946657819109278191093182588878828911258336166911/12/2007 10:13:00 AM01000000010300000103040001030500010307000104000075Press ReleaseBTGDMGOEMAITVPGWPPFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.382333_pr_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/ccbn/T1678358ccbn/T1678358norm11/9/2007 12:07:00 PMSeat Pagine Gialle54.0000FinalQ3 2007 Seat Pagine Gialle Earnings Conference Call TranscriptSPG.MI4:00pm CET...Ladies and gentlemen, Seat Pagine Gialle welcomes you to the conference call on its financial results as of November #, ####, hosted by the Chief Executive Officer, Mr. Luca Majocchi. The presentation will be followed by a question and answer session. A replay service will be made available for one week. I now hand the conference over to Mr. Majocchi. Please go ahead, sir. ... TranscriptT1678358Credit & Investment ResearchThomson StreetEvents