S&P raises Guitar Center

S&P said it upgraded Guitar Center Inc. to CCC- from SD and its senior secured notes to CCC- because approaching maturities may lead to continued restructuring.

The rating on the senior unsecured notes remains D until Guitar Center finishes its post-closing exchange offer, S&P said.

“We continue to view Guitar Center's capital structure as unsustainable and fast-approaching maturities may be an impetus for the company to pursue a more holistic debt restructuring,” the agency said in a press release.

The outlook is negative.

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