| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers R > Headlines for Rite Aid Corp. > News item |
Moody's rates Rite Aid loans B1, B3
Moody's Investors Service said it assigned a B1 (LGD 2) rating to Rite Aid Corp.'s new ABL revolving credit facility and a B3 (LGD 3) rating to the company's new FILO term loan.
All of the company's other ratings are unchanged.
The outlook remains negative.
Rite Aid's leverage remains high due to EBITDA erosion and because free cash flow remains weak, Moody's said.
The company's operating performance remains under pressure and it has a much weaker competitive position due to its much larger and well-capitalized competitors, the agency said.
The ratings consider the company's weak market position, changing pharmacy landscape and competitive environment, Moody's said.
The company's lease adjusted debt-to-EBITDA ratio is expected to be about 6.8x at the end of fiscal year 2019, the agency said.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.