Moody's confirms A&P, rates loan B2, convertibles Caa1

Moody's Investors Service said it confirmed Great Atlantic and Pacific Tea Co.'s ratings, including its corporate family rating at B3 and speculative-grade liquidity rating of SGL-3.

Moody's said it also assigned a B2 rating to the company's new $370 million senior secured bridge loan, as well as a prospective provisional Caa1 rating to a planned issue of senior unsecured convertible bonds.

The outlook on all is stable.

Moody's noted that this action concludes the review of A&P's ratings which was initiated on March 5, 2007, following A&P's announcement of its plan to acquire Pathmark Stores, Inc.

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