S&P: General Nutrition up, GNC Holdings BB-

Standard & Poor's said it raised its corporate credit and senior secured debt rating on General Nutrition Centers Inc. to BB- from B+. The recovery rating on the secured debt remains at 3, indicating an expectation for meaningful recovery in the event of a default. The outlook is stable.

At the same time, the agency said it assigned its BB- corporate credit rating to GNC Holdings Inc. The outlook is stable.

"The upgrade reflects our view that General Nutrition Centers and its parent, GNC Holdings Inc., should be able to grow profits and maintain credit metrics consistent with a significant financial risk profile, given the generally favorable environment for nutritional supplements that we forecast," said S&P credit analyst Jayne Ross in a news release.

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