Moody's may upgrade Gregg

Moody's Investors Service said it placed hhgregg, Inc.'s B1 corporate family rating on review for possible upgrade and affirmed the SGL-2 speculative grade liquidity rating.

The agency said this review follows Gregg's strong operating performance and the successful completion of its initial public offering and subsequent debt reduction, the result of which are credit metrics that are very strong for the B1 rating category. Gregg has been successful in its pricing and merchandising strategy and has more than held its own thus far with its larger, better-capitalized big box competitors in its markets.

Moody's review will focus on the quality of operating performance for the second quarter ended Sept. 30 and an assessment of the company's prospects for the balance of 2007 as well as 2008.

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