Frankfurt am Main, October 07, 2015 -- Moody's Investors Service, ("Moody's") has today lowered to B2, from B1 the corporate family rating (CFR) and to B2-PD, from B1-PD the probability of default rating (PDR) of Paternoster Holding III GmbH ("the Issuer"), the indirect parent company of Wittur International Holding GmbH (Wittur or "the Group"). Concurrently, Moody's has lowered to Caa1, from B3 the instrument rating of the Issuer's EUR225 million 8-year Senior Notes and to B1, from Ba2 the rating of the EUR195 million 7-year Term Loan B (Term Loan) and the Revolving Credit Facility raised by Paternoster Holding IV GmbH, a fully owned subsidiary of the Issuer. Today's rating action concludes the review for downgrade initiated by Moody's on 11 August 2015.

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