Michael Foods Group, Inc. -- Moody's Affirms Michael Foods B2 CFR Pending Close of Post Acquisition

New York, April 17, 2014 -- Moody's Investors Service ("Moody's) today affirmed Michael Foods Group, Inc.'s ("Michael Foods") B2 Corporate Family Rating (CFR) and B2-PD Probability of Default Ratings following the announcement that Post Holdings Inc. ("Post) has agreed to purchase the company for approximately $2.5 billion. Concurrently, Moody's affirmed the Ba3 rating on Michael's senior secured bank facilities, the B3 rating on its senior unsecured notes, and the Caa1 rating on its senior PIK notes issued at Michael Foods Holding, Inc. The outlook remains stable.

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