16.01.2014 18:09:00

Moody's reviews for downgrade trademark royalty securitization issued by KCD IP

New York, January 16, 2014 -- Moody's Investors Service has placed under review for downgrade asset-backed notes issued by KCD IP, LLC. The notes are secured by royalty payments from Kenmore, Craftsman and DieHard trademarks in the United States and its territories. Sears Holdings Corporation (Sears), the original owner of the trademarks, transferred them to a bankruptcy-remote special-purpose entity, KCD IP LLC that issued the notes. KCD IP LLC has licensed the trademarks to subsidiaries of Sears: Sears, Roebuck and Co. and Kmart.

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