Freedom Group, Inc. -- Moody's downgrades Freedom Group's CFR to B2; outlook is stable

New York, October 24, 2014 -- Moody's Investors Service downgraded Freedom Group, Inc.'s ("Freedom Group") Corporate Family Rating to B2 from B1. The downgrade reflects Moody's view that Freedom Group's weak operating performance and credit metrics are unlikely to return to levels expected for a B1 consumer durable company in the next couple of years. The rating on the $575 million term loan was downgraded to B2 from Ba3 and the rating on the secured notes was downgraded to Caa1 from B3. The SGL 1 speculative grade liquidity rating was affirmed. The rating outlook is stable.

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