Moody’s freshens Fresh Market view to stable

Moody's Investors Service said it revised the outlook for Fresh Market Inc. to stable from negative.

“Fresh Market's topline and EBITDA has demonstrated some improvement and we expect credit metrics to improve modestly in the next 12 months,” said Mickey Chadha, a Moody’s vice president, in a news release.

“However, the increasingly competitive and promotional business environment and pricing pressure from larger and better performing competitors in the company's geographic footprint will make any major improvement in profitability difficult to come by and the risk of a distressed exchange remains high,” Chadha said.

Moody’s affirmed the corporate family and probability of default ratings of Caa2 and Caa2-PD and affirmed the rating of Caa2 on Fresh Market’s $800 million of senior secured notes.

© 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.