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Athlete's Foot bankruptcy spurs downgrade

Following the liquidation of 114 corporate-owned Athlete's Foot stores, Moody's Investors Service recently downgraded the shoe retailer's $30 million franchise fee securitization two notches to Baa3' from Ba2'.

The single-tranche 4.2-year offering closed in September 2003, via placement agent UCC Capital Corp. Late last year, Athlete's Foot filed for...

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