Moody's: Mattress unchanged

Moody's Investors Service said news that Mattress Holding Corp.'s parent, Mattress Firm Holding Corp., has launched an initial public offering could have positive implications for the company's B3 corporate family and probability of default ratings and B1 senior secured credit facility rating.

The agency said it views the potential IPO favorably due to the specified use of proceeds being designated for debt reduction.

This will be a meaningful improvement in leverage and is credit positive, Moody's said.

The agency said it will continue to monitor the IPO process and assess the impact on Mattress's ratings and outlook.

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