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S&P drops K&N Parent to D
S&P said it lowered its ratings on K&N Parent Inc., its first-lien debt to D from CCC- and its second-lien debt to D from C.
“The downgrade follows the completion of a debt restructuring we view as distressed,” S&P said in a press release.
S&P said it plans to review K&N’s ratings over the next few days and will probably boost the ratings to the CCC category.
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