Moody's upgrades Juice Plus

Moody's Investors Service said it upgraded the corporate family rating for JP Intermediate B, LLC to B3 from Caa3 and the probability of default rating to B3-PD from Caa3-PD. Concurrently, Moody's raised the ratings for the company's senior secured credit facilities to B2 from Caa2. The facilities consist of a $50 million senior secured first-lien revolving credit facility and a $450 million secured first-lien term loan.

The company is the indirect parent of the Juice Plus Co.

“The upgrade reflects Moody's expectation for better top line and operating profit growth and gradual leverage improvement. Juice Plus has made good progress in reducing financial leverage largely due to significantly better earnings as consumers continue to focus on wellness as a result of the pandemic, as well as debt repayment,” the agency said in a press release.

The outlook is stable.

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