Moody's may lower Jarden

Moody's Investors Service said it placed the ratings of Jarden Corp. under review for possible downgrade.

Ratings placed under review include the senior implied rating of Ba3; the $70 million senior secured revolving credit facility due 2007, rated Ba3; the $50 million senior secured term loan A due 2007, rated Ba3; the $150 million senior secured term loan B due 2008, rated Ba3; the $100 million add-on term loan B due 2008, rated Ba3; the $180 million 9¾% senior subordinated notes due 2012, rated B2; and the senior unsecured issuer rating of B1.

Moody's said the review was triggered by Jarden's announcement on Sept. 20 that it would acquire American Household Inc for $745.6 million plus the assumption of debt. American Household is the parent of The Coleman Co. Inc. and Sunbeam Products Inc. This acquisition is the largest undertaken by Jarden to date.

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