U.S.-based Parfums Acquisition Co. Inc. has acquired the Cantu and Bodycology brands from Advanced Beauty Inc. We are assigning a 'B' corporate credit rating to Parfums. In addition, we are assigning a 'B' issue-level rating and '3' recovery rating to the company's senior secured revolver and term loan. Our stable outlook reflects our expectation for moderate sales growth and steady cash flow generation that will lead to modest credit ratio improvement, including leverage sustained around 5x. On July 2, 2015, Standard&Poor's Ratings Services assigned its 'B' corporate credit rating to Stamford, Conn.-based Parfums Acquisition Co. Inc. The outlook is stable. At the same time, we assigned our 'B' issue-level rating to Parfums' $20 million senior secured revolving credit
