New York, August 06, 2013 -- Moody's said Spectrum Brands' announcement today of its cash tender offer for its $950 million 9.5% secured notes is credit positive, but not enough to change its B1 Corporate Family Rating or stable outlook. Moody's expects the company to fund the tender offer and over $100 million of make whole payments and transaction fees with $1.1 billion of new debt financing. The terms of the new debt financing are not yet public.
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