NEW YORK — Moody's Investor Service here said Tuesday it was downgrading certain notes issued by Bi-Lo LLC to B2 from B1. The rating applies to the chain's proposed $285 million senior secured notes due in 2019, which are being issued to refinance Bi-Lo's existing $195 million senior secured term loan due in 2015 and to fund a $74 million cash distribution to an affiliate of Lone Star, the company's Dallas-based equity sponsor. The $74 million dividend represents about half the cash equity ...
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