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Prospect News home > News index > List of issuers A > Headlines for Advance Auto Parts, Inc. (Advance Stores Co.) > News item |
Moody's rates Advance Auto loan Ba1
Moody's Investors Service said it affirmed the Ba1 corporate family rating of Advance Auto Parts, Inc. and assigned a Ba1 rating to its new $200 million senior unsecured term loan.
The company's probability-of-default rating was downgraded to Ba2 from Ba1.
The outlook is positive.
Moody's said the Ba1 corporate family rating reflects Advance's solid franchise and operating model, tempered by its regional concentration in the eastern United States.
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