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Moody's: Kleopatra PIK notes Caa1
Moody's Investors Service said it assigned a definitive Caa1 rating to the €225 million payment-in-kind notes due 2017 issued by Kleopatra Holdings 1 SCA.
Concurrently, Moody's withdrew Kleopatra Holdings 2 SCA's B2 corporate family rating and the B2-PD probability of default rating and assigned Kleopatra Holdings 1 SCA a B2 corporate family rating as well as a B2-PD probability of default rating.
All other ratings were affirmed.
The outlook remains stable.
Moody's said the definitive Caa1 rating on the €225 million payment-in-kind notes reflects that the final terms and conditions of the notes are in line with Moody's expectations.
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