March 20, 2012 at 14:06 PM EDT
TEXT-S&P rates Great Atlantic & Pacific Tea Co 'B-'
March 20 - Overview -- U.S.-based grocery chain The Great Atlantic & Pacific Tea Co. Inc. (A&P) emerged from bankruptcy and closed on its exit financing, including a $270 million senior secured term loan and $490 million of debt and equity financing from an investor group. -- We are assigning a 'B-' corporate credit rating to the company and a 'B+' issue-level rating with a '1' recovery rating to the senior secured term loan. -- The negative outlook incorporates our
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