PFS Holding Corporation -- Moody's Places PFS Holding's Ratings on Review for Downgrade

New York, August 21, 2014 -- Moody's Investors Service ("Moody's") today placed PFS Holding Corporation's ("PFS") B2 Corporate Family Rating ("CFR") on review for downgrade following the company's second quarter earnings, which reflected dramatically deteriorated operating performance due to integration challenges faced with a recent acquisition, and loss of the right to distribute the Royal Canin product line. This has also negatively impacted the company's credit metrics and liquidity profile relative to what Moody's expected at the time the ratings were assigned.

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