Moody's: Hughes Supply view developing

Moody's Investors Service said it changed the outlook of Hughes Supply, Inc. to developing from stable.

The change in outlook was prompted by the recent announcement that its board of directors has authorized management to consider strategic alternatives for the company to maximize shareholder value. A special committee of independent directors of the board has been formed to oversee the process.

Moody's currently rates the company's corporate family rating Ba1, $300 million 5½% guaranteed senior unsecured notes due 2014 at Ba1 and speculative grade liquidity rating at SGL-1.

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