S&P downgrades General Nutrition

Standard & Poor's said it lowered its corporate credit and senior secured bank loan ratings on General Nutrition Centers Inc. to B from B+, the subordinated debt rating to CCC+ from B-, and the preferred stock rating to CCC from CCC+.

The outlook is stable.

S&P said the downgrade is based on concerns over weaker-than-expected sales and operating trends. S&P said it believes that credit protection measures may deteriorate given that it is unlikely that GNC will be able to reverse its recent negative same-store sales results in the near term. Ratings reflect its recent weak operating performance, expectations of continued operational challenges, its product liability risk, and its high debt leverage.

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