S&P: Elizabeth Arden notes B

Standard & Poor's said it assigned Elizabeth Arden Inc.'s $225 million of 10-year senior notes a B issue-level rating with a 5 recovery rating, indicating the expectation for modest (10%-30%) recovery in the event of payment default.

The company issued the new senior notes to replace the existing $220 million of 7¾% senior subordinated notes, finance a tender premium and pay transaction expenses.

The B+ corporate credit rating remains unchanged.

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