London, 21 June 2016 -- Moody's Investors Service, ("Moody's") has today downgraded to B3 from B2, the Corporate Family Rating (CFR) and to B3-PD from B2-PD the Probability of Default Rating (PDR) of Oxea S.ar.l. ("Oxea"), the ultimate holding company of the subsidiary guarantors to the group's senior secured credit facilities. In addition, Moody's downgraded to B3 from B2 the rating on the first-lien senior secured credit facility at Oxea's subsidiary Oxea Finance & Cy S.C.A. ("OF"). The outlook on all ratings was changed to negative from stable.

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