Winebow Holdings, Inc. -- Moody's assigns B2 Corporate Family Rating to The Winebow Group; Outlook stable

New York, June 17, 2014 -- Moody's Investors Service ("Moody's") today assigned a first time Corporate Family Rating (CFR) and Probability of Default Rating (PDR) of B2 and B2-PD, respectively, to The Winebow Group, LLC ("The Winebow Group"), a new company formed through the combination of Winebow, Inc. ("Winebow") and The Vintner Group, Inc. ("Vintner"), two leading importers and distributors of fine wines and craft spirits. Moody's also assigned a B1 (LGD3, 42%) rating to The Winebow Group's proposed $230 million first lien term loan and a Caa1 (LGD5, 89%) rating to its proposed $130 million second lien term loan. The first and second lien term loans will be jointly issued by Winebow Holdings, Inc. and The Vintner Group, Inc. The outlook is stable. Proceeds from the issuance will be used to refinance existing debt of both companies, pay a shareholder dividend, pay estimated transaction expenses and add about $4 million cash to the balance sheet.

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