...On Nov. 29, 2004, Standard & Poor's Ratings Services assigned its 'B' long-term corporate credit rating to Delaware-based WDAC Subsidiary Corp. (World Directories), an international publisher of classified directories. The outlook is stable. At the same time, Standard & Poor's assigned its 'B' debt rating and a recovery rating of '3' to the proposed 1.215 billion ($1.591 billion) senior secured term loan facilities, to be issued by entities guaranteed by World Directories. A '###+' debt rating was also assigned to the proposed 545 million, second-ranking senior notes, due 2014, to be issued by World Directories. All ratings are preliminary and subject to review of final documentation. The '###+' long-term rating is two notches below the corporate credit rating, reflecting the subordinated position of the notes behind the group's 975 million senior secured term loan facility, 140 million acquisition facility, and 100 million revolving credit facility. The senior secured loan facilities are...