WILLIAMSVILLE, N.Y. — Debt-ratings agency Moody's on Monday said it has downgraded the debt ratings on Tops Holding Corp., parent of Tops Friendly Markets here, following a review that began in August. Moody's downgraded the corporate family and probability of default ratings to Caa1 from B3, and downgraded the rating of its $350 million of secured bonds to Caa1 from B3, signaling a slightly higher credit risk. The rating outlook is stable. The new rating reflects the company's "high ...

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