Moody's rates C&A loan B1

Moody's Investors Service said it assigned a B1 rating to Collins & Aikman Products Co.'s new guaranteed senior secured A-1 term loan, added by amendment to the company's existing credit agreement dated as of December 20, 2001.

This new term loan partially refinanced the company's existing term loans A and B, in forward order of maturity. Moody's additionally confirmed the company's SGL-3 speculative grade liquidity rating after incorporating the fact that the new $185 million A-1 term loan would defer until De. 31, 2005 a like amount of principal amortization otherwise scheduled during March 31, 2004 through June 30, 2005.

All of the company's existing debt ratings and its negative outlook remain unchanged.

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