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Prospect News home > News index > List of issuers G > Headlines for General Nutrition Centers Inc. > News item |
Fitch rates GNC, loan, notes
Fitch Ratings said it assigned a B+ long-term issuer default rating to GNC Holdings, Inc. and General Nutrition Centers, Inc.
The agency also assigned a BB+/RR1 rating to the company's proposed $100 million asset-backed loan revolver and a BB/RR2 to both the proposed $705 million term loan B and proposed $500 million in secured notes.
The outlook is negative.
“The B+ rating reflects GNC's leading position in the growing health and wellness products market,” Fitch said in a news release.
“The rating considers recent market share declines, driven by encroaching competition and executional missteps, which in concert with recent financial policy decisions, have weakened the company's leverage profile.”
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