London, 24 November 2016 -- Moody's Investors Service has today downgraded the corporate family rating (CFR) of Photonis Technologies SAS (Photonis) to B3 from B2 and the probability of default rating (PDR) to B3-PD from B2-PD. Concurrently, Moody's also downgraded the instrument rating on the senior secured term loans to B3 from B2 and instrument rating on the super senior revolving credit facility to Ba3 from Ba2. The outlook on all ratings remains negative.
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