New York, June 26, 2013 -- Moody's Investors Service said today that Luxlas Fund Limited Partnership's (d.b.a. Clement Pappas and Company) proposed amendment to its Term Loan B (rated B2) credit facility is a credit positive. Moody's views the expanded cushion and reduced pace of step-downs on the company's leverage covenant as an enhancement to Clement Pappas' liquidity. Further, the lower pricing on the Term Loan B facility is expected to improve free cash flow generation going forward. However, the proposed amendment to its credit facility does not affect Clement Pappas' B1 Corporate Family Rating, B2 rating on its Term Loan B or stable rating outlook.

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