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Moody's cut KNB Holdings
Moody's Investors Service said it downgraded KNB Holdings Corp.'s probability of default rating to D-PD from Caa3-PD after the company's filed for protection under Chapter 11 of the U.S. Bankruptcy Code on Feb. 9.
Moody's also cut the corporate family rating to C from Caa3 and the senior secured first-lien term loan rating to C from Caa3. The outlook remains negative.
Moody’s said it will withdraw the ratings.
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