Moody's gives Southern States notes B3

Moody's Investors Service said it assigned a B3 rating to Southern States Cooperative, Inc.'s proposed $130 million senior unsecured note issue due 2021.

Moody's also affirmed the company's B1 corporate family rating, B1-PD probability of default rating and SGL-3 speculative grade liquidity rating. The outlook remains negative.

Proceeds from the proposed offering will be used to refinance Southern States' $130 million senior unsecured notes due 2015 and pay related fees and expenses.

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