Moody's reviews, could cut American Greetings

Moody's Investors Service said it placed American Greetings Corp.'s ratings on review for downgrade following its announcement that a group led by Zev Weiss, CEO, and Jeffrey Weiss, COO, have offered to buy the company and take it private in a deal valued at about $580 million.

The SGL-2 speculative grade liquidity rating remains unchanged, but could change if and when a transaction is agreed to and the financial profile of the post transaction company becomes clearer, the agency said.

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