Moody’s has placed the senior and subordinated debt ratings of the six largest U.S. banks on review as it considers reducing its government support assumptions to reflect the impact of U.S. bank resolution policies.
Moody’s Investors confirmed Revlon’s Ba3 CFR and Ba2 senior secured term loan rating concluding the downgrade initiated following the company’s announced $660 million debt-funded acquisition of The Colomer Group.
Moody’s Investors Service announced it downgraded TWCC Holdings, d/b/a The Weather Channel Companies corporate family rating to B1 from Ba3, and assigned a B3 to its proposed $600 million second lien senior secured term loan.
In a special report on the U.S. Corporate Bond Market, Fitch Ratings notes the BBB pool reached a new high of 32.1%. Fitch also notes that issuance activity totaled $905.6 billion in 2012, a 32% increase year-over-year.
Fitch Ratings assigned a rating of BB-/RR1 to Rite Aid’s proposed new $1.725 billion secured revolver, $900 million term loan and $470 second lien term loan. The proceeds will be used to refinance Rite Aid’s existing $1.175 ABL facility.