Reader's Digest Sheds 75% Of Debt Through Ch. 11

Law360, New York (February 22, 2010, 2:10 PM EST) -- The Reader's Digest Association Inc. announced Monday that it had completed a Chapter 11 restructuring that reduced its debt by 75 percent, a week after it cut its British unit loose to appease the U.K.'s pension regulator.

“This is a very important day for our company, and emerging with a delevered balance sheet and a strong new capital structure is a significant step forward as we continue to transform RDA into a global media and marketing leader,” RDA CEO Mary Berner said. “My sincere thanks go...
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