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Moody's: Mattress Holding loan B1
Moody's Investors Service said it assigned a B1 rating to Mattress Holding Corp.'s new senior secured credit facilities consisting of a $70 million revolver and a $227 million term loan.
At the same time, Moody's affirmed all other existing ratings of Mattress Firm Holding Corp., parent of Mattress Holding Corp, including the B2 corporate family and probability of default ratings and the SGL-2speculative grade liquidity rating.
The outlook is stable.
Moody's said the dollar-for-dollar refinancing is leverage neutral but credit positive as it extends the company's debt maturities and increases the capacity under its revolver.
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