MUMBAI (Thomson Financial) - Moody's Investors Service said it has withdrawn
all the credit ratings of Bally Total Fitness Holding Corp after the company's
announcement it has commenced voluntary reorganization proceedings under Chapter
11 of the US Bankruptcy Code.
The proceedings seek to confirm a "prepackaged" plan of reorganization the
company's bondholders have voted to support.
The ratings withdrawn are 235 mln usd 10.5 pct senior unsecured notes
(guaranteed) due 2011 rated 'Ca', the 300 mln usd 9.875 pct senior subordinated
notes due 2007 rated 'C', corporate family rating 'Ca' and probability of
default rating 'D'.
TFN.newsdesk@thomson.com
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