Moody's takes action on Galleria CBO IV
(The following statement was released by the rating agency)
May 19 - Moody's Investors Service announced today that it has downgraded and left on review for possible further downgrade the ratings on the following notes issued by Galleria CBO IV (formerly Beacon Hill II) Class Description: $160,500,000 Class A-1 Senior Secured Floating Rate Term Notes, Due 2034 Prior Rating: B3, on review for possible downgrade Current Rating: Caa1 on review for possible downgrade Class Description: $160,500,00 Class A-2 Senior Secured Floating Rate Revolving Notes, Due 2034 Prior Rating: B3, on review for possible downgrade Current Rating: Caa1, on review for possible downgrade According to Moody's, the rating actions reflect increased deterioration in the credit quality of the underlying portfolio.
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Citadel enters the fray
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