London, 27 November 2015 -- Moody's Investors Service, ("Moody's") has today assigned a Caa1 corporate family rating (CFR) and Caa1-PD probability of default rating (PDR) to Lion/Gem Luxembourg 3 S.a.r.l., the indirect parent entity of Findus Pledgeco ("Young's" or "Lion/Gem" or "the company"). The ratings outlook is stable. Concurrently, Moody's has withdrawn Findus Pledgeco's B3 CFR and B3-PD PDR which was under review for downgrade.
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