California Pizza Kitchen, Inc. (CPK) -- Moody's revises California Pizza Kitchen's rating outlook to positive; B3 CFR affirmed

New York, August 02, 2016 -- Moody's Investors Service, ("Moody's") revised California Pizza Kitchen, Inc.'s ("CPK") rating outlook to positive from stable and affirmed the company's B3 Corporate Family Rating and B2 rating on its $30 million senior secured revolver and $359 million (outstanding) senior secured term loan, both due 2018. At the same time, Moody's assigned a B2 rating to the company's proposed $320 million first lien bank facility and a Caa2 rating to its proposed $75 million second lien term loan and upgraded its Probability of Default Rating to B3-PD. Ratings are subject to review of final documentation.

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