ClubCorp Club Operations, Inc. -- Moody's says ClubCorp's announced amend and extend and planned IPO are credit positive; ratings unaffected

New York, July 12, 2013 -- Moody's Investors Service commented that ClubCorp Club Operations, Inc.'s ("ClubCorp") announcement that it is seeking to amend and extend its senior secured revolver and term loan and that its parent -- ClubCorp Holdings, Inc. -- announced it filed a draft registration statement in Form S-1 on a confidential basis with the SEC for a possible initial public offering of shares of its common stock are both credit positive. However, ClubCorp's B2 Corporate Family Rating, Ba2 senior secured rating, B3 senior unsecured rating and stable outlook are unaffected by the announcements.

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