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NN, Inc. -- Moody's revises NN's rating outlook to positive, CFR affirmed at B3

Moody's Investors Service ("Moody's") revised NN, Inc.'s (NN) rating outlook to positive from stable following the recent paydown of the $200 million second-lien senior secured term loan. In a related action, Moody's affirmed NNs Corporate Family Rating (CFR) at B3, affirmed the first-lien senior secured bank credit facilities' rating at B2, and downgraded the Probability of Default Rating (PDR) to Caa1-PD, from B3-PD reflecting the change in capital structure. Moody's also affirmed the Speculative Grade Liquidity (SGL) Rating at SGL-3.