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Moody's rates Mattress Firm B2
Moody's Investors Service said it assigned a B2 corporate family rating and a speculative grade liquidity rating of SGL-2 to Mattress Firm Holding Corp., parent of Mattress Holding Corp.
The outlook is stable.
In a separate action, Moody's withdrew the B3 corporate family and probability of default ratings of Mattress Holding Corp. to reflect the consolidated entity's new reporting structure. Mattress Holding Corp. is the sole operating entity of Mattress Firm and the borrower under bank credit facilities, which are rated B1.
"The effective upgrade in the corporate family rating to B2 reflects the company's deleveraging as a result of its recent IPO," Moody's analyst Mariko Semetko said in a news release.
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