09.11.2016 19:29:00
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Matalan Finance plc -- Moody's downgrades Matalan's CFR to Caa1; changes outlook to stable
London, 09 November 2016 -- Moody's Investors Service, (Moody's) has today downgraded the Corporate Family Rating (CFR) of Missouri TopCo Limited (Matalan or the company) to Caa1 from B3 and its probability of default rating (PDR) to Caa1-PD from B3-PD. Concurrently, Moody's has downgraded the rating of GBP342 million senior secured notes due 2019, issued by Matalan Finance plc, to B3 from B2 and the rating of GBP150 million second lien notes due 2020, also issued by that company, to Caa3 from Caa2. The rating outlook was revised to stable from negative.