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Prospect News home > News index > List of issuers G > Headlines for General Nutrition Centers Inc. > News item |
S&P rates General Nutrition notes B-
Standard & Poor's said it assigned its B- rating to General Nutrition Centers Inc.'s proposed $150 million senior unsecured notes due 2011.
The existing ratings for GNC, including the B corporate credit rating, B secured bank loan rating, B- senior unsecured debt rating, and CCC+ subordinated debt rating, were affirmed. The outlook is stable.
S&P said the ratings on GNC reflect the company's recent weak operating performance, expectations of continued operational challenges, its product liability risk, and high debt leverage.
GNC is implementing several initiatives to improve its competitive position and boost sales. This includes focusing on the merchandise assortment, leveraging its brand, and launching a new marketing program. Success from these initiatives will be key to the company's future.
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