Moody's confirms Prestige Brands' B2 CFR following announcement of CB Fleet acquisition
New York, January 11, 2017-- Moody's Investors Service, today confirmed Prestige Brands, Inc.' s B2 Corporate Family Rating, its B2-PD Probability of Default rating, and all ratings on its credit facilities. This follows the company's announcement that it has entered into a definitive agreement to acquire C.B. Prestige is buying Fleet from private equity firm Gryphon Investors in a transaction valued at approximately $825 million.
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