Moody's cuts Knowledge Universe

Moody's Investors Service said it lowered Knowledge Universe Education LLC's corporate family rating and probability of default rating to B2 from B1 and the rating on the $260 million senior subordinated notes due 2015 to B3 from B2.

The outlook remains negative.

Moody's said the downgrade reflects continued pressure on Knowledge Universe's same center revenues and enrollments, owing to elevated unemployment levels and the generally soft macro environment.

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