New York, February 04, 2014 -- Moody's Investors Service today assigned a B3 rating to $275 million of proposed PIK toggle notes that will be issued by Century Intermediate Holding Company 2 ("Century"), the indirect parent of American Greetings Corporation ("American Greetings"). In addition, Moody's upgraded the senior unsecured notes issued by American Greetings to B2 from B3 and affirmed the existing first lien debt instrument ratings at Ba2 as a result of the increase in junior debt capital. Also, because new debt is being issued at the indirect parent, Moody's assigned a B1 Corporate Family Rating (CFR), B1-PD Probability of Default Rating (PDR), and SGL-2 speculative grade liquidity rating to Century and will withdraw American Greetings Corporation's B1 CFR and B1-PD PDR upon the close of this transaction. The outlook for the company is maintained at stable.

Vollständigen Artikel bei Moodys lesen