Varsity Brands Holding Co, Inc. -- Moody's says that Varsity Brands' refinancing and re-pricing transactions are credit positive, but do not impact the ratings

New York, May 26, 2015 -- Moody's Investors Service said that Varsity Brands Holding Co, Inc.'s ("Varsity Brands") proposed $50 million add-on to the first lien term loan, the proceeds of which will be used to reduce second lien term loan by the same amount, and the proposed first lien term loan re-pricing transactions are credit positive as they will result in interest expense savings. However, these transactions do not impact the company's ratings, including its B2 CFR and B1 rating on the first lien term loan, or stable outlook, since debt levels and leverage will remain unchanged.

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