Moody's: Visant outlook developing

Moody's Investors Service said it affirmed Visant Holding Corp.'s ratings and changed the outlook to developing from positive. Affirmed were the company's corporate family rating at B1 and its senior unsecured bonds at B3 (LGD5, 86%).

The agency also affirmed operating subsidiary Visant Corp's senior subordinated bonds at B1 (LGD4, 54%) and senior secured bank credit facility at Ba1 (LGD2, 13%).

Moody's said it changed the outlook to developing after the company announced a review of strategic and capital market alternatives, because of the uncertainty regarding the company's future capital structure and credit metrics.

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