Moody's: Alliance Laundry outlook developing

Moody's Investors Service said it changed Alliance Laundry Holdings Inc.'s outlook to developing.

Alliance Laundry Holdings Inc.'s senior implied rating is B2 and senior unsecured issuer rating B3 and Alliance Laundry Systems LLC's $110 million senior subordinated notes due 2008 are rated B3, $45 million senior secured revolver due 2007 is rated B1 and $136 million senior secured term loan due 2007 is rated B1.

Moody's said the outlook revision follows Alliance's announcement that it has signed a definitive agreement for its sale to an entity established by Teachers' Private Capital, the private equity arm of the Ontario Teachers' Pension Plan, for $450 million.

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