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 ...

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