New York, September 12, 2014 -- Moody's Investors Service, ("Moody's") today assigned a first time B2 Corporate Family Rating ("CFR") to Flavors Holdings Inc. ("Flavors Holdings" or "Flavors"), the holding company for operating subsidiaries Mafco Worldwide Corporation ("Mafco") Merisant Company ("Merisant"), which will be acquired as part of the transaction. Moody's also assigned a B2 rating to the company's new $50 million senior secured first lien revolving credit facility expiring in 2019, a B2 rating to the company's new $365 million senior secured first lien term loan maturing in 2020, and a Caa1 rating to the company's new $75 million senior secured second lien term loan maturing in 2021. Proceeds from the facilities are being used to finance Flavors Holdings' acquisition of Merisant and refinance outstanding debt obligations at Mafco. Ratings are subject to Moody's satisfactory review of the final documentation. The rating outlook is stable.

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