Moody's cuts GNC loan to B2, notes to Caa1

Moody's Investors Service said it downgraded all ratings of General Nutrition Centers Inc., including the bank loan to B2 from B1 and the 8½% senior subordinated notes to Caa1 from B3.

Moody's also downgraded GNC's senior implied rating to B2 from B1 and long-term unsecured issuer rating to B3 from B2.

Moody's said its expectation that sales and debt protection measure trends will remain poor over the medium-term, the uncertainty regarding long-term strategy and the need for continuous product development prompted the downgrade.

© 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.