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AAC Holdings, Inc. -- Moody's downgrades AAC Holdings' CFR to Caa2; outlook negative

Moody's Investors Service, ("Moody's") downgraded the ratings of AAC Holdings, Inc. ("AAC"), parent company of American Addiction Centers, Inc. Downgrades include the Corporate Family Rating to Caa2 from B3, the Probability of Default Rating to Caa2-PD from B3-PD and the senior secured rating to Caa2 from B3. For provisional ratings, this announcement provides certain regulatory disclosures in relation to the provisional rating assigned, and in relation to a definitive rating that may be assigned subsequent to the final issuance of the debt, in each case where the transaction structure and terms have not changed prior to the assignment of the definitive rating in a manner that would have affected the rating.