London, 11 August 2014 -- Moody's Investors Service has today affirmed the B1 Corporate Family Rating (CFR) of Welltec A/S ("Welltec" or "the company") and the B1 rating on the company's $325 million senior secured notes due 2019. Moody's has also downgraded the Probability of Default Rating (PDR) to B1-PD from Ba3-PD after increasing the Expected Family Recovery Rate to 50%. The outlook on the ratings remains stable.
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