S&P: Home Interiors unchanged

Standard & Poor's said the ratings and outlook on Home Interiors & Gifts Inc. (CCC+/negative) would not be affected by the company's announcement that it has amended its senior credit facility.

The amendment waives compliance by the company with the consolidated leverage ratio and the consolidated interest coverage ratio covenants from June 30 to but not including Sept. 30, S&P added.

Additionally, the amendment reduces available borrowing under the company's revolving credit facility to $45 million from $50 million, limits cash balances and suspends payments of fees in cash under the company's financial advisory and monitoring and oversight agreements with its financial sponsor during this period, S&P said.

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