London, 20 February 2015 -- Moody's Investors Service, ("Moody's") has today upgraded the corporate family rating (CFR) of Holdelis S.A.S ("Elis") to Ba2 from B1. Concurrently, Moody's has also upgraded the probability of default rating (PDR) to Ba2-PD from B1-PD and the rating of the EUR450 million senior secured notes issued by Novalis S.A.S. to Ba2 from Ba3. All ratings have stable outlook.

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