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20.01.2015 18:53:00
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Novarte -- Moody's assigns a Caa2 CFR to Novartex; negative outlook
London, 20 January 2015 -- Moody's Investors Service has today assigned a first-time corporate family rating (CFR) of Caa2 and probability of default rating (PDR) of Caa2-PD to Novartex. Concurrently, Moody's has assigned a B3 rating to the EUR500 million Senior Bonds maturing in October 2019 (the New Money Bond) issued by Vivarte and a Caa3 rating to the EUR780 million reinstated debt maturing in October 2020 (the Reinstated Debt) issued by Novarte, both subsidiaries of Novartex. The outlook is negative.
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