Moody’s rates Spencer loan B2

Moody's Investors Service said it assigned a B2 rating to Spencer Gifts LLC's and Spirit Halloween Superstores LLC's proposed $360 million senior secured term loan due 2021.

Concurrently, the agency affirmed SSH Holdings, Inc.'s (Spencer) B2 corporate family rating and B2-PD probability of default rating.

The outlook remains stable.

Proceeds from the proposed term loan will be used to refinance Spencer's $175 million senior secured notes and $165 million senior HoldCo PIK toggle notes and pay for transaction expenses.

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