Moody's upgrades SEG

Moody's Investors Service said it upgraded SEG Holding, LLC's corporate family rating and probability of default rating to Ba3 and Ba3-PD from B1 and B1-PD, respectively. Moody's also upgraded the rating of the company's senior secured notes to B1 from B2.

Additionally, Moody's upgraded the rating of subsidiary BI-LO LLC’s asset-based revolving credit facility to Ba1 from Ba2.

"The company's better than expected operating performance coupled with its debt reduction has resulted in a significant improvement in credit metrics and we expect metrics to remain strong even after consumer buying patterns return to normal as they resume spending in travel, leisure and services," Mickey Chadha, a Moody's vice president stated, in a press release.

The outlook for SEG Holding, LLC and BI-LO is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.