Moody's upgrades Smart & Final

Moody's Investors Service said it upgraded the corporate family rating and probability of default rating of Smart & Final Holdings Corp. to B2 from B3.

Moody's also upgraded the rating of the first-lien term loans to B2 from B3, the rating of the ABL revolving credit facility to Ba1 from Ba2 and the rating of the second-lien term loans to B3 from Caa1.

The outlook is positive.

"Smart & Final has reduced its debt burden significantly resulting in improved credit metrics and liquidity," Moody's senior analyst Mickey Chadha said in a news release.

"The company's operating performance continues to demonstrate its ability to compete effectively and maintain margins in a tough economic and competitive business environment," Chadha added in the release.

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