NEW YORK — Moody's Investors Service here said Friday it was upgrading the ratings of Smart & Final Holdings Corp., Los Angeles, with a positive outlook.
"Smart & Final has reduced its debt burden significantly, resulting in improved credit metrics and liquidity," Mickey Chadha, senior analyst, said. "The company's operating performance continues to demonstrate its ability to compete effectively and maintain margins in a tough economic and competitive business environment."
Moody's upgraded the company's corporate family rating and probability of default rating to B2 from B3; the ratings of its first lien term loans to B2 from B3; the ratings of the asset-based-lending revolving credit facility to Ba1 from Ba2; and the rating of the second lien term loans to B3 from Caa1.