Moody's: Rank outlook negative

Moody's Investors Service said it confirmed the B1 corporate family rating of Rank Group plc and the B3 debt rating of its subsidiary Rank Group Finance plc.

The agency also affirmed Rank Group Finance's $14.3 million guaranteed notes due 2018 at B3 (LGD5).

The outlook is negative.

The confirmation acknowledges a degree of revenue stabilization for the Rank Group during the first 17 weeks of 2008, Moody's said.

The agency said while it believes there is currently some headroom under covenants, that operating forward visibility remains poor and could come under pressure if performance deteriorates.

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