Moody's ups some Amscan loans

Moody's Investors Service said it upgraded Amscan Holdings' asset-based revolving credit facility to Ba2 (LGD 2, 22%) from Ba3 (LGD 3, 30%) and affirmed the corporate family and probability-of-default ratings at B2.

The outlook remains stable.

The upgrade of the asset-based revolving credit facility was triggered by Moody's assessment due to the structure of this facility, according to the agency.

The rating reflects the company's high financial leverage, aggressive financial policies and narrow business focus, Moody's said.

The rating is supported by the company's strong market share in its wholesale and retail operations, diverse distribution including international markets, and the relative demand stability for party goods and related accessories, the agency noted.

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