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S&P gives Toys 'R' Us loan B
Standard & Poor's said it assigned its B rating and 1 recovery rating to Toys "R" Us Inc.'s $800 million secured term loan due in 2012 and $200 million asset sale bridge loan due 2008.
At the same time, S&P said it affirmed the company's B- corporate credit rating.
The outlook is stable.
The agency added that the ratings on Toys "R" Us Inc. reflect the company's participation in the intensely competitive retail toy industry, its inability to find a differentiated niche within the U.S. toy industry, its high leverage and its thin cash flow protection measures.
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