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FULLBEAUTY Brands Ratings Lowered

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On May 1, 2018, S&P Global Ratings lowered its corporate credit rating on FULLBEAUTY Brands Holdings Corp. to CCC- from CCC+, its $820 million first-lien term loan rating to CCC- from CCC+ and its $345 million second-lien term loan rating to C from CCC. According to S&P Global, the downgrade reflects that the Company could pursue a financial restructuring, including at least a portion of its debt obligations, at less than par within the next few quarters given significantly discounted trading prices on the Company’s term loans. S&P further states that the Company’s capital structure is unsustainable as competition in the plus-size segment intensifies and continues to pressure sales and margins, resulting in deteriorating credit metrics.  Read more on distressed companies.

The post FULLBEAUTY Brands Ratings Lowered appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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