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Pfleiderer Group S.A. -- Moody's downgrades Pfleiderer to B1; outlook stable

Moody's Investors Service ("Moody's") has today downgraded to B1 from Ba3 the corporate family rating (CFR) and to B1-PD from Ba3-PD the probability of default rating (PDR) of Poland-based engineered wood manufacturer Pfleiderer Group S.A. ("Pfleiderer" or "group"). Concurrently, Moody's downgraded to B1 from Ba3 the instrument ratings on the planned increased EUR480 million senior secured term loan B (TLB, maturing 2024) and the EUR100 million equivalent senior secured revolving credit facility (RCF, maturing 2022), raised by PCF GmbH, a direct subsidiary of Pfleiderer.