Catalyst Paper Record Greater Net Loss in First Quarter
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Catalyst completed the exchange of US$318.7 million of its 8.625 per cent senior notes due June 2011, for US$280.4 million of new 11 per cent senior secured notes due December 2016. As of quarter-end, US$35.5 million of the 2011 notes remained outstanding. Catalyst received credit-rating downgrades during the quarter from Moody's and Standard and Poor's.
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