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IRB Holding Corporation -- Moody's downgrades IRB Holding's secured bank ratings to B2, confirms B2 CFR, outlook is negative

Moody's Investors Service, ("Moody's") today downgraded IRB Holding Corporation's ("IRB") senior secured bank ratings to B2 from B1 including the proposed $1.025 billion upsize to its existing senior secured term loan. Moody's also downgraded IRB's $485 million senior unsecured notes to Caa2 from Caa1.