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Prospect News home > News index > List of issuers L > Headlines for Linens 'n Things Inc. > News item
Published on 5/2/2008 in the Prospect News Bank Loan Daily, Prospect News Distressed Debt Daily and Prospect News High Yield Daily.

Moody's downgrades Linens 'N Things PDR to D

Moody's Investors Service said it downgraded Linens 'N Things, Inc.'s probability-of-default rating to D from Ca and confirmed its corporate family rating at Ca, $650 million senior secured guaranteed notes due 2014 at Ca (LGD4, 61%) and speculative-grade liquidity rating at SGL-4.

The downgrade of the probability-of-default rating was prompted by the company voluntary filing for Chapter 11 bankruptcy on Friday. As a result, the agency said it will withdraw all the ratings on Linens 'N Things in the near future.


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