Moody's: Visant outlook developing

Moody's Investors Service said it changed the outlook of Visant Holding Corp. to developing from negative following R.R. Donnelley and Sons Co.'s announced acquisition of Von Hoffman from Visant Holding for about $413 million in cash.

The agency affirmed Visant Holding's B1 corporate family rating and B3 senior notes and operating subsidiary Visant Corp.'s Ba2 senior secured bank rating and B2 senior subordinated notes.

The developing outlook incorporates uncertainty as to timing and use of proceeds from the asset sale, Moody's said.

© 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.