Moody's rates American Safety loan

Moody's Investors Service said it has assigned B2 ratings to the proposed senior secured revolving credit and first lien term loan facilities of American Safety Razor Co. and a B3 rating to its proposed second lien senior secured term loan facility.

In addition, Moody's has affirmed the company's B2 senior implied rating and revised the ratings outlook to positive from stable.

Moody's said the rating action reflects the benefits of the proposed transaction, which will extend its debt maturities by four to six years, as well as the expectation that management's focus on its core wet shaving business will enable the company to sustain improved profit levels despite the ever-present threats posed by its large competitors.

Ratings affected include the senior implied rating, affirmed at B2; $25 million senior secured revolving credit facility due 2009, assigned at B2; $150 million senior secured first lien term loan facility due 2011, assigned at B2; $50 million senior secured second lien term loan facility due 2011, assigned at B3; senior unsecured issuer rating, affirmed at Caa1.

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