Albain Midco Norway AS -- Moody's downgrades Albain Midco Norway AS (EWOS)'s CFR to B3; stable outlook

London, 07 October 2014 -- Moody's Investors Service has today downgraded to B3 from B2 the corporate family rating (CFR) and to B3-PD from B2-PD the probability of default rating (PDR) of Albain Midco Norway AS, which is a holding company of the EWOS group (EWOS), a leading Norwegian-based salmon feed producer. At the same time, Moody's has downgraded to B3 from B2 the ratings of the EUR225 million senior secured notes due 2020 and the NOK1,810 million senior secured floating-rate notes due 2020 issued by Albain Bidco Norway AS, and to Caa2 from Caa1 the rating of the NOK1,040 million senior subordinated notes issued by Albain Midco Norway AS. The outlook of all ratings is stable.

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