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Dyno Nobel Europe Pty Ltd -- Moody's affirms Incitec Pivot's Baa2 ratings; revises outlook to stable

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Moody's Investors Service has today affirmed (1) the Baa2 long-term and P-2 short-term local and foreign currency issuer ratings of Incitec Pivot Limited (IPL), (2) the (P)Baa2 backed senior unsecured MTN foreign currency ratings of IPL, Dyno Nobel Europe Pty Ltd and Incitec Pivot Finance LLC, (3) the (P)Baa2 senior unsecured MTN local currency rating of IPL, and (4) the Baa2 backed senior unsecured local currency rating of Incitec Pivot Finance LLC. The outlook on these entities has been changed to stable from negative. SUCH USE WOULD BE RECKLESS AND INAPPROPRIATE.