Fitch reviews GNC

Fitch Ratings said it placed the ratings of GNC Holdings, Inc. on rating watch evolving following its credit facility refinancing proposals announced on Feb. 13.

The watch affects GNC's CCC long-term issuer default rating and the B-/RR2 rating on GNC's senior secured credit facility.

The agency expects to resolve the watch following the results of the refinancing process over the next two weeks.

“GNC's ratings following the completion of its proposed amendment would be dependent on Fitch's view of the company's capital structure, including its success in extending a substantial level of its $1.1 billion term loan principal from its current March 2019 maturity to 2021, following several unsuccessful refinancing attempts in 2017,” Fitch said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.