Moody's downgrades Atrium

Moody's Investors Service said it lowered ACIH, Inc.'s probability of default to D from Ca/LD following news by Atrium Cos., Inc. that it has filed voluntary petitions from reorganization under Chapter 11.

The company's C rating on its $4.6 million senior discount notes due 2012 was unchanged, along with its corporate family rating of Ca. Its $50 million senior secured revolving credit facility due 2011 also went unchanged at Caa3 (LGD3, 31%), $348.9 million senior secured term loan due 2012 at Caa3 (LGD3, 31%), $220.3 million senior subordinated notes due 2012 at C (LGD5, 88%) and $47.9 million senior subordinated notes due 2010 at C (LGD5, 73%). The speculative grade liquidity rating remains SGL-4.

Atrium and its subsidiaries will continue to operate throughout the bankruptcy processes, Moody's said.

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