{"id":3480,"date":"2014-03-12T11:29:05","date_gmt":"2014-03-12T05:59:05","guid":{"rendered":"http:\/\/indonesia-furniture.com\/news\/2014\/03\/12\/moody%e2%80%99s-places-furniture-brands-debt-under-review\/"},"modified":"2014-03-12T11:29:05","modified_gmt":"2014-03-12T05:59:05","slug":"moodys-places-furniture-brands-debt-under-review","status":"publish","type":"post","link":"https:\/\/indonesia-furniture.com\/articles\/moodys-places-furniture-brands-debt-under-review\/","title":{"rendered":"Moody\u00e2\u20ac\u2122s places Furniture Brands debt under review"},"content":{"rendered":"<p>Furniture Today,<br \/>\nNEW YORK \u00e2\u20ac\u201d Moody\u00e2\u20ac\u2122s Investors Service has placed Furniture Brands International \u00e2\u20ac\u2122s debt rating under review                         <!--adsense--><br \/>\n\t\t <!--more--><br \/>\nfor another possible downgrade, citing the company\u00e2\u20ac\u2122s recent disclosure that it likely won\u00e2\u20ac\u2122t be in compliance with certain financial covenants as of March 31.<\/p>\n<p>Last month, Moody\u00e2\u20ac\u2122s downgraded Furniture Brands\u00e2\u20ac\u2122 debt rating to below investment grade (Ba1), \u00e2\u20ac\u0153based on deterioration in the company\u00e2\u20ac\u2122s margins and credit metrics over the past two years and continuing challenges in addressing weakness in its Broyhill brand,\u00e2\u20ac\u009d Moody\u00e2\u20ac\u2122s said in a statement.<\/p>\n<p> \u00e2\u20ac\u0153Although the company is in process of negotiating to amend the facilities to include less restrictive covenants, the negotiations could result in economic concessions to the lending groups including increased costs, reduction in the size of the revolver or other modifications in the terms and condition of the agreements, said Moody\u00e2\u20ac\u2122s Vice President and Senior Analyst Kevin Cassidy.<\/p>\n<p>The review involves Furniture Brands $400 million guaranteed revolving credit facility due 2017.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Furniture Today, NEW YORK \u00e2\u20ac\u201d Moody\u00e2\u20ac\u2122s Investors Service has placed Furniture Brands International \u00e2\u20ac\u2122s debt rating under review<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-3480","post","type-post","status-publish","format-standard","hentry","category-furniture-world-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/3480","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/comments?post=3480"}],"version-history":[{"count":0,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/3480\/revisions"}],"wp:attachment":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/media?parent=3480"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/categories?post=3480"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/tags?post=3480"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}