New York, April 08, 2014 -- Moody's Investors Service ("Moody's") today announced that Vector Group Ltd.'s ("Vector") $150 million add-on to its $450 million 7.75% Senior Secured Notes does not impact the company's B2 Corporate Family Rating, the Senior Secured Notes' Ba3 rating , B2-PD Probability of Default Rating or stable outlook. Additionally, the company's Speculative Grade Liquidity Rating of SGL-2 remains unchanged as the increased interest expense as a result of the add-on notes is not sufficiently material to impact Vector's overall liquidity profile. "Though leverage will increase temporarily, we expect credit metrics to improve, as it is likely Vector's convertible notes due in November 2014 will convert," said Nancy Meadows, Moody's Vice President and Senior Analyst.

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