Moody's gives Sensata notes Caa2

Moody's Investors Service said it assigned a Caa2 rating to Sensata Technologies BV's €141 million subordinated notes due 2014, which replaces Sensata's existing €141 million term loan maturing 2013.

In a related rating action, Moody's said it affirmed the following ratings: corporate family rating at B3, probability of default rating at B3, senior secured credit facility at B1, senior unsecured notes at Caa1 and senior subordinated notes at Caa2.

The company's speculative-grade liquidity rating remains at SGL-2, the agency noted.

The outlook is stable.

The company's B3 corporate family rating reflects the lack of deleveraging as the company continues to face challenging economic environments, Moody's added.

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