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Moody's assigns ASG notes B3
Moody's Investors Service said it assigned a rating of B3 to the $55 million add-on to ASG Consolidated LLC's 11½% senior discount notes due in 2011.
Moody's said it also affirmed the company's existing ratings, including its corporate family rating and probability of default rating at B1.
The outlook remains stable.
Proceeds of the add-on, net of expenses, will be distributed to members, this distribution is in addition to regular distributions for taxes and for member enhancement, the agency said, noting that the affirmation of the company's other ratings was based on ASG's stability in operating cash flow, relative to other natural products processors.
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