22.01.2015 19:50:00

Iceland Bondco plc -- Moody's downgrades Iceland Foods to B2 from B1; stable outlook

London, 22 January 2015 -- Moody's Investors Service today downgraded Iceland VLNCo Limited (Iceland or the company) corporate family rating (CFR) to B2 from B1 and probability of default rating (PDR) to B1-PD from Ba3-PD. Concurrently, Moody's downgraded to B2 from B1 the ratings on the senior secured notes issued by Iceland Bondco plc and due 2020, 2021 and 2024. The outlook is stable.

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