New York, July 05, 2016 -- Moody's Investors Service ("Moody's") downgraded Northwest Hardwoods, Inc.'s (NWH) Corporate Family Rating to B3 from B2 following performance below previous expectations and Moody's belief that credit metrics have become supportive of lower ratings. In related actions, Moody's downgraded NWH's Probability of Default Rating to B3-PD from B2-PD, and its senior secured notes due 2021 to Caa1 from B3. The rating outlook remains stable.
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