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PURITY NOTES DOWNGRADED BY MOODY'S

NORTH BILLERICA, Mass. -- The senior secured notes, due 1999, of Purity Supreme here have been downgraded by Moody's Investor Service, New York, to B3 from B1.les declines and high leverage, as well as on the intensely competitive markets in which it operates."Purity has not been able to expand its store base and strengthen its market position against its major competitors," the rating agency said,

NORTH BILLERICA, Mass. -- The senior secured notes, due 1999, of Purity Supreme here have been downgraded by Moody's Investor Service, New York, to B3 from B1.

les declines and high leverage, as well as on the intensely competitive markets in which it operates.

"Purity has not been able to expand its store base and strengthen its market position against its major competitors," the rating agency said, "due to a preference by mall developers for financially stronger tenants, as well as its own inability to obtain development financing."

Partly offsetting those factors, Moody's said, is a slowdown in competitive store openings, stabilization of the local economy and some improvement in Purity's operating margin. Purity operates 58 supermarkets.