Moody's says Advent purchase is positive

Moody's Investors Service said that on Aug. 5, private equity firm Advent International Corp. said it agreed to acquire a majority interest in AOT Bedding Super Holdings, the parent company of National Bedding Co., the majority owner and licensee of Serta, and Simmons Bedding Co.

"We think the acquisition by Advent is credit positive in the near term as it removes uncertainty surrounding who might acquire the two bedding companies, which have been rumored to be for sale for a couple of months," Moody's senior credit officer Kevin Cassidy said in a news release.

"The longer term credit implications, however, are not yet clear as we don't know what Advent's plans are for Serta and Simmons' long term capital structure or what its operating strategy will be," Cassidy added in the release.

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