Moody's: Atlantis Plastics probability down to D

Moody's Investors Service said it revised the probability of default rating of Atlantis Plastics, Inc. to D from Ca/LD following the company's announcement it filed voluntary petitions for Chapter 11 reorganizations for itself and its subsidiaries.

Moody's said it will withdraw the ratings within several days.

Moody's noted that it previously downgraded the probability of default rating to Ca/LD to reflect the company's failure to pay the interest on its $75 million junior term loan due 2012.

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