Moody's lowers North American Breweries'

Moody's Investors Service said it downgraded North American Breweries Holdings, LLC's corporate family rating to Caa1 from B2, probability of default rating to Caa1-PD from B2-PD and senior secured term loan to Caa1 (LGD4-55%) from B2 (LGD5-54%).

Moody's said the downgrade follows another weak quarter that exacerbated already weak financial metrics and liquidity and required an equity cure from its parent, Cerveceria Costa Rica SA, (not rated) to keep it in compliance with its financial covenants.

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