Moody's withdraws Global Motorsport rating

Moody's Investors Service said it withdrew all ratings assigned on Dec. 10 for Global Motorsport Group Inc., including its B2 rating on a proposed $85 million note offering by the company.

Moody's said Global Motorsport pulled its proposed offering of $85 million of guaranteed second-lien senior secured notes maturing 2008, following the company's unexpected recent changeover of its chief financial officer during the road show for these notes. Management stated that this is a temporary delay while its new chief financial officer settles in.

Global Motorsport, with headquartered in Morgan Hill, Calif., is the largest independent supplier of aftermarket parts and accessories for Harley-Davidson and similar motorcycles based on revenues.

A market source not associated with Moody's told Prospect News the note offering by Global Motorsport is expected to proceed at a later date.

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