Moody's cuts kgb, lifts loan

Moody's Investors Service said it downgraded kgb's corporate family rating to B3 from B2 and probability of default rating to Caa1-PD from B2-PD.

Moody's also upgraded the company's $90 million second-lien term loan due December 2013 to B2 from B3.

The outlook is stable.

Moody's said the downgrades reflect increased refinancing risk as the company approaches the maturity of its second-lien term loan on Dec. 1, 2013.

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