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Moody's pulls Franchise Group ratings
Moody’s Investors Service said it withdrew Franchise Group, Inc.'s ratings, including its B1 corporate family rating, B1-PD probability of default rating, SGL-2 speculative grade liquidity rating and B1 rating to its proposed $650 million senior secured notes. The agency also withdrew the stable outlook.
Franchise Group decided not to proceed with its offering of $650 million of senior secured notes due 2025 due to unfavorable market conditions, Moody’s said.
“Moody's has withdrawn Franchise Group's ratings because the obligation is no longer outstanding,” the agency said in a press release.
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