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Moody's revises Gibson view to negative
Moody's Investors Service said it revised it outlook for Gibson Guitar Corp. to negative from stable while at the same time affirming Gibson's ratings, including its B2 corporate family rating and B2 senior secured credit facility rating.
The negative outlook reflects Moody's view that Gibson's cushion under its financial leverage covenant may be very tight over the next few quarters, especially as the covenant contractually adjusts in first-quarter 2010.
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