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Published on 9/22/2006 in the Prospect News Bank Loan Daily and Prospect News High Yield Daily.

Consumer products

This includes U.S. consumer products, beverage, toy, natural product processors, packaged food processors and agricultural cooperative sectors.

Collins & Aikman Floorcoverings Inc., B2; probability-of-default rating, B2; senior secured credit facilities, upgraded to Ba2 from B1, LGD 2, 14%; senior subordinated notes, upgraded to B3 from Caa1, LGD 4, 69%.

The Dixie Group Inc., B1; probability-of-default rating, B1; $22 million convertible subordinated debentures due 2012, B3, LGD 6, 90%;

Interface Inc., B2; probability-of-default rating, B2; senior notes, B2, LDG 3, 49%; senior subordinated notes, Caa1, LDG 5, 89%.

Polymer Group, Inc., B1; probability-of-default rating, B2; senior secured loans, B1, LDG 3, 33%.

Springs Window Fashions LLC, B1; probability-of-default rating, B2; bank loans, upgraded to Ba3 from B1, LGD 2, 29%.

Unifi, Inc., B3; probability-of-default rating, B3; senior secured notes, Caa1, LDG 4, 61%;

Alliance One International Inc., B2; probability-of-default rating, B2; senior secured revolver, upgraded to B1 from B2, LGD3, 37%.

Intabex Netherlands BV, senior secured loans, upgraded to B1 from B2, LGD3, 37%; senior notes, upgraded to B2 from B3, LGD4, 53%; senior subordinated notes, upgraded to Caa1 from Caa2, LGD6, 95%.

American Safety Razor Co., B2; probability-of-default rating, B2; first-lien loans, upgraded to B1 from B2, LGD3, 38%; second-lien loan, upgraded to B3 from Caa1, LGD4, 58%;

Bare Escentuals Beauty Inc., B2; probability-of-default rating, B2; first-lien loans, upgraded to Ba2 from B1, LGD2, 22%; second-lien loan, B3, LGD4, 69%.

Central Garden & Pet Co., Ba3; probability-of-default rating, Ba3; senior secured loans, Ba2, LGD3, 38%; senior subordinated notes, B2, LGD5, 88%;

Chattem Inc., Ba3; probability-of-default rating, Ba3; senior subordinated notes, upgraded to B1 from B2, LGD5, 76%.

Church & Dwight Co. Inc., Ba2; probability-of-default rating, Ba2; senior secured bank loans, upgraded to Baa3 from Ba2, LGD2, 23%; convertible debentures, Ba2, LGD4, 59%; senior subordinated notes, Ba3, LGD5, 85%.

Del Laboratories, B3; probability-of-default rating, B3; senior secured notes, upgraded to B2 from B1, LGD2, 27%; senior subordinated notes, Caa2, LGD5, 81%.

Elizabeth Arden, Ba3; probability-of-default rating, Ba3; senior subordinated notes, upgraded to B1 from B2, LGD4, 70%;

FGX International Ltd., B2; probability-of-default rating, B2; first-lien loans, upgraded to B1 from B2, LGD3, 35%; second-lien loan, downgraded to Caa1 from B3, LGD5, 84%.

Hines Nurseries, B3; probability-of-default rating, B3; senior secured revolver, upgraded to Ba3 from B2, LGD2, 12%; senior unsecured bonds, upgraded to Caa1 from Caa2, LGD4, 68%.

Jafra Worldwide Holdings, Ba3; probability-of-default rating, Ba3. Jafra Cosmetics International, Inc., senior subordinated notes, upgraded to B1 from B2, LGD4, 60%.

North Atlantic Trading Co., B3; probability-of-default rating, B3; senior notes, Caa1, LGD4, 58%. North Atlantic Holding Co., senior discount notes, upgraded to Caa2 from Ca, LGD6, 94%.

Playtex Products, Inc., B2; probability-of-default rating, B2; senior secured revolver, upgraded to Ba2 from B1, LGD2, 19%; senior secured notes, upgraded to Ba3 from B2, LGD2, 27%; senior subordinated notes, Caa1, LGD5, 80%.

Prestige Brands, Inc., B1; probability-of-default rating, B1; senior secured loans, upgraded to Ba3 from B1, LGD3, 38%; senior subordinated notes, B3, LGD6, 90%.

Revlon Consumer Products Corp., B3; probability-of-default rating, B3; revolver, upgraded to Ba3 from B2, LGD2, 11%; term loan, upgraded to B2 from B3, LGD3, 34%; senior notes, upgraded to Caa1 from Caa2, LGD4, 61%; senior subordinated notes, upgraded to Caa2 from Caa3, LGD6, 93%.

Reynolds American, Inc., Ba2; probability-of-default rating, Ba2; senior secured loans, raised to Baa2 from Ba1, LGD2, 12%; secure notes, raised to Ba3 from Ba2, LGD4, 66%. R.J. Reynolds Tobacco Holdings, Inc. guaranteed unsecured notes, raised to Ba3 from B1, LGD5, 73%; unsecured notes, upgraded to B1 from B2, LGD6, 96%.

The Scott's Miracle Gro Co., Ba1; probability-of-default rating, Ba1; senior subordinated notes, Ba2, LGD6, 93%.

Spectrum Brands, B3; probability-of-default rating, B3; revolver and term loan, upgraded to B1 from B2, LGD2, 27%; senior subordinated notes, Caa2, LGD5, 82%.

Universal Corp., Ba1; probability-of-default rating, Ba1; notes, raised to Ba2 from Ba1, ,LGD5, 73%.

VJCS Acquisition, Inc., B2; probability-of-default rating, B2; senior secured loans, raised to B1 from B2, LGD3, 38%; senior subordinated mezzaine loan, Caa1, LGD5, 88%.

Ames True Temper, Caa1; probability-of-default rating, Caa1; senior unsecured notes, upgraded to Caa1 from Caa2, LGD 3, 49%; senior subordinated notes, Caa3, LGD 5, 87%.

Bombardier Rec Products, B1; probability-of-default rating, B1; secured revolver, Ba2, LGD 2, 25%; secured term loan, B1, LGD 4, 51%.

Directed Electronics, B1; probability-of-default rating, B2; senior secured revolver and term loan, B1, LGD 3, 32%.

Fender Muscial Instruments, B2; probability-of-default rating, B2; first-lien senior secured loans, upgraded to B1 from B2, LGD 3, 34%; second-lien secured loan, Caa1, LGD 5, 84%.

Hillman Cos., B2; probability-of-default rating, B2; senior secured loan, upgraded to Ba3 from B2, LGD 2 , 23%.

Interactive Health, Caa1; probability-of-default rating, Caa1; senior discount notes, downgraded to Caa2 from Caa1, LGD 4, 63%;

Knoll, Ba3; probability-of-default rating, B1; senior secured loan, upgraded to Ba2 from Ba3, LGD 2, 27%.

National Bedding, B1; probability-of-default rating, B1; first-lien senior secured loans, upgraded to Ba3 from B1, LGD 3, 36%; second-lien senior secured loan, B3, LGD 5, 86%.

Rinker Boats, B2; probability-of-default rating, B2; senior secured loans, upgraded to B1 from B2, LGD 3, 40%.

Sealy Mattress Co., Ba3; probability-of-default rating, Ba3; senior secured loans, upgraded to Ba1 from Ba3, LGD 2, 25%; senior subordinated notes, B2, LGD 5, 81%.

Simmons Co., B2; probability-of-default rating, B2; secured loans, upgraded to Ba3 from B2, LGD 2, 27%; subordinated notes, upgraded to B3 from Caa1, LGD 5, 73%; discount notes, upgraded to Caa1 from Caa2, LGD 6, 91%.

Steelcase, Ba1; probability-of-default rating, Ba1; senior unsecured notes, Ba1, LGD 4, 59%.

Steinway Musical Instrument, Ba3; probability-of-default rating, Ba3; senior unsecured notes, downgraded to B1 from Ba3, LGD 4, 64%.

Tempur Pedic, Ba3; probability-of-default rating, Ba3; senior subordinated notes, B2, LGD 6, 91%.

Birds Eye Foods, Inc., B1; probability-of-default rating, B1; senior secured loans, upgraded to Ba3 from B1, LGD3, 41%; senior subordinated notes, B3, LGD5, 89%.

Bumble Bee Foods, LLC, Ba3; probability-of-default rating, B1; credit facility, Ba3, LGD2, 29%.

CTI Foods Holding Co, LLC, B2; probability-of-default rating, B2; term loan, downgraded to B3 from B2, LGD4, 67%.

Eagle Family Foods, Inc., Caa1; probability-of-default rating, B3; notes, upgraded to Caa2 from Caa3, LGD5, 87%.

Lenox Group, Inc., B1; probability-of-default rating, B2; revolver, upgraded to Ba2 from Ba3, LGD2, 18%; term loan, B1, LGD3, 30%;.

Libbey Glass Inc., B2; probability-of-default rating, B2; notes, B2, LGD3, 49%.

Michelina's, Inc., B1; probability-of-default rating, B1; loans, B1, LGD4, 57%.

Otis Spunkmeyer, Inc., B1; probability-of-default rating, B1; loans, upgraded to Ba3 from B1, LGD3, 40%.

Pierre Foods, Inc., B1; probability-of-default rating, B1; loan, upgraded to Ba2 from B1, LGD2, 28%; notes, B3, LGD5, 82%.

Samsonite Corp., B1; probability-of-default rating, B1; senior unsecured notes, upgraded to Ba3 from B1, LGD3, 30%; senior subordinted notes, B3, LGD5, 80%.

Southern States Cooperative Inc., B2; probability-of-default rating, B2; notes, downgraded to Caa1 from B3, LGD5, 80%.

Da-Lite Screen Company, Inc., B2; probability-of-default rating, B2; notes, B2, LGD4, 52%.

Hunter Fan Co., B1; probability-of-default rating, B2; loans, upgraded to Ba3 from B1, LGD2, 27%.

Jarden Corp., B1; probability-of-default rating, B1; loans, upgraded to Ba3 from B1, LGD3, 41%; notes, B3, LGD6, 91%.

Oreck Corp., B1; probability-of-default rating, B2; loans, B1, LGD2, 29%.

Rexair Holdings, Inc., B1; probability-of-default rating, B2; loans, B1, LGD3, 34%.

Salton, Inc., Caa1; probability-of-default rating, Caa1; notes, upgraded to Caa3 from Ca, LGD6, 91%.

ACCO Brands Corp., Ba3; probability-of-default rating, Ba3; loans, downgraded to Ba1 from Ba3, LGD2, 27%; notes, B2, LGD5, 87%. ACCO Netherland Holdings BV, loan, downgraded to Ba1 from Ba3, LGD2, 27%. ACCO Brands Europe Ltd., loans, upgraded to Ba1 from Ba3, LGD2, 27%.

American Achievement Group Holding Corp., B2; probability-of-default rating, B2; notes, upgraded to Caa1 from Caa2, LGD5, 89%. AAC Group Holding Corp., notes, upgraded to B3 from Caa1, LGD4, 69%. American Achievement Corp., notes, upgraded to B1 from B2, LGD3, 41%;; loans, upgraded to Ba2 from Ba3, 9%.

American Greetings Corp., Ba1; probability-of-default rating, Ba1; loans, upgraded to Baa3 from Ba1, LGD2, 28%; notes, Ba2, LGD5, 81%.

Blyth, Inc., Ba3; probability-of-default rating, Ba3; bonds, Ba3, LGD4, 55%.

Easton-Bell Sports, Inc., B1; probability-of-default rating, B1; notes, B3, LGD5, 88%; loans, upgraded to Ba3 from B1, LGD3, 37%.

Easton Sports Canada, Inc., revolver, upgraded to Ba3 from B1, LGD3, 37%.

Home Products International, Inc., Caa1; probability-of-default rating, Caa1; notes, upgraded to Caa2 from Caa3, LGD5, 73%.

K2 Inc., Ba3; probability-of-default rating, Ba3; notes, B1, LGD4, 61%.

Pure Fishing, Inc., B1; probability-of-default rating, B1; first-lien loans, upgraded to Ba3 from B1, LGD3, 39%; second-lien loan, upgraded to B3 from B2, LGD5, 87%.

Recycled Paper Greetings, Inc., B2; probability-of-default rating, B2; first-lien loans, upgraded to Ba3 from B2, LGD3, 30%; second-lien loan, Caa1, LGD5, 85%.

Remington Arms Co, Inc., B3; probability-of-default rating, B3; notes, Caa1, LGD4, 63%.

True Temper Sports, Inc., B2; probability-of-default rating, B2; notes, Caa1, LGD5, 78%; loans, upgraded to Ba2 from B2, LGD2, 22%.

Tupperware Brands Corp., Ba2; probability-of-default rating, Ba3; loans, upgraded to Ba1 from Ba2, 25%.


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