London, 11 October 2016 -- Moody's Investors Service, ("Moody's") has today downgraded Deoleo S.A. (Deoleo or the company) corporate family rating (CFR) to Caa1 from B3 and probability of default rating (PDR) to Caa1-PD from B3-PD. Concurrently, Moody's has also downgraded to Caa1 from B3 the ratings on the senior secured EUR460 million first lien term loan and the EUR85 million first lien revolving credit facility, and to Caa3 from Caa2 the rating on the senior secured EUR55 million second lien term loan. The rating outlook has been changed to negative from stable.

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