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Article: Fitch Rates U.S. Industries' 11.25% Senior Secured Notes 'B'; Rating Outlook Stable.
- Article from:
- Business Wire
- Article date:
- February 14, 2003
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Business Editors
NEW YORK--(BUSINESS WIRE)--Feb. 14, 2003
Fitch Ratings has assigned 'B' ratings to U.S. Industries, Inc.'s (USI) 11.25% senior secured notes and its senior secured bank facilities and upgraded the rating on USI's 7.25% senior secured notes to 'B' from 'B-' and removed it from Rating Watch Negative. Fitch Ratings has also assigned an indicative senior unsecured rating of 'B-' to USI. The Rating Outlook is Stable. In addition, Fitch's 'D' rating on USI's 7.125% senior secured notes is withdrawn. From this issue $11.6 million of bonds remain outstanding. The senior secured notes and senior secured bank facilities share security in ...