New York, June 18, 2014 -- Moody's Investors Service today downgraded Allen Systems Group, Inc.'s ("ASG") Probability of Default Rating to D-PD from Ca-PD/LD. The downgrade was prompted by the company's failure to pay the semi-annual interest payment under its 10.5% second lien senior secured notes (originally due May 15th, 2014), after the expiry of the applicable 30 day grace period under the notes indenture.
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