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Bob’s Discount Furniture better with ratings upgrades; Pure Fishing unchanged on downgrades
By Sara Rosenberg
New York, April 11 – In the secondary market on Tuesday, Bob’s Discount Furniture’s (BDF Acquisition Corp.) term loan B headed higher as the company’s corporate family and senior secured ratings were upgraded by Moody’s Investors Service.
Bob’s Discount Furniture’s 2026 term loan moved up to 98 bid, par offered on Tuesday from 96¼ bid, 97¾ offered on Monday after the company’s corporate family rating was lifted by Moody’s to B3 from Caa1 and its senior secured first-lien term loan rating was raised to B2 from Caa1, according to a trader. The outlook is stable.
Moody’s said that the upgrades reflect governance considerations including the full repayment of the company’s 2023 term loan with balance sheet cash. The company’s next debt maturity will be the $150 million ABL, which expires the earlier of May 2026 or 180 days before the term loan maturity, which is February 2026.
On the other hand, Pure Fishing’s first-lien term loan held steady following corporate family and senior secured ratings downgrades by Moody’s.
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