New York, October 31, 2016 -- Moody's Investors Service (Moody's) downgraded Southern States Cooperative Inc.'s Corporate Family Rating (CFR) to Caa1 from B3. The downgrade results from significant earnings deterioration due to falling commodity prices and adverse weather conditions that have weakened volumes and compressed margins. In conjunction with the downgrade of the CFR, Moody's also downgraded the $130 million senior secured second lien notes due 2021 to Caa2 and the Probability of Default to Caa1-PD. The company also has a $300 million ABL revolver due 2018 that is unrated. Southern States' speculative grade liquidity (SGL) rating was withdrawn. The outlook is negative.

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