15.01.2013 19:49:00
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Hillenbrand, Inc. -- Moody's Confirms Hillenbrand's ratings at Baa3, outlook negative
New York, January 15, 2013 -- Moody's Investors Service confirmed Hillenbrand Inc.'s (Hillenbrand) Baa3 senior unsecured rating. The company's ratings had been under review for downgrade due to structural subordination issues between the senior unsecured notes and the bank revolving credit facility. The outlook is negative. Moody's notes that the company's notes are now guaranteed equally and ratably with the revolver. Accordingly, the notes and the revolver are pari passu and the structural subordination issue is eliminated.