Bally Total Fitness ratings withdrawn after co files for bankruptcy - Moody's |
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Published
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Fri, 03 Aug 2007 07:09
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MUMBAI (Thomson Financial) - Moody's Investors Service said it has withdrawn all the credit ratings of Bally Total Fitness Holding Corp after the company's announcement it has commenced voluntary reorganization proceedings under Chapter 11 of the US Bankruptcy Code.The proceedings seek to confirm a 'prepackaged' plan of reorganization the company's bondholders have voted to support.The ratings withdrawn are 235 mln usd 10.5 pct senior unsecured notes (guaranteed) due 2011 rated 'Ca', the 300 mln usd 9.875 pct senior subordinated notes due 2007 rated 'C', corporate family rating 'Ca' and probability of default rating 'D'.TFN.newsdesk@thomson.comapm/manCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Bally files reorganization plan 