Moody's says Vector unchanged

Moody's Investors Service said Vector Group Ltd.'s $150 million add-on to its $450 million 7¾% senior secured notes does not impact the company's B2 corporate family rating, Ba3 senior secured note rating, B2-PD probability of default rating, SGL-2 speculative grade liquidity rating or stable outlook.

"Though leverage will increase temporarily, we expect credit metrics to improve, as it is likely Vector's convertible notes due in November 2014 will convert," Nancy Meadows, Moody's vice president and senior analyst, said in an agency news release.

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