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Dean Foods Company -- Moody's downgrades Dean Foods CFR to Caa1; outlook negative

Moody's Investors Service ("Moody's") today downgraded Dean Foods Company's ("Dean") Corporate Family Rating (CFR) to Caa1 from B3 and its Probability of Default Rating to Caa1-PD from B3-PD. Moody's also downgraded the company's senior unsecured notes to Caa2 from Caa1. At the same time Moody's affirmed the company's Speculative Grade Liquidity Rating at SGL-3.