Fitch affirms Centro

Fitch Ratings said it affirmed Centro NP LLC's issuer default rating at CCC, along with its $703 million senior unsecured notes at CCC with a recovery rating of RR4 and $305 million revolving facility at B+ with a recovery rating of RR1.

The negative outlook was removed as Fitch said it typically does not have outlooks for issuer default ratings below B-.

The affirmation reflects the high levels of leverage of Super LLC, Centro's direct parent, on a consolidated basis, the agency said.

Super has hired advisers to work on a restructuring plan and Fitch said it believes the company will successfully address near-term debt maturities.

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