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18.11.2016 20:44:00
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Novasep Holding SAS -- Moody's upgrades Novasep's PDR to Caa2-PD/LD upon completion of the distressed exchange but affirms its Caa2 CFR; outlook revised to stable from negative
London, 18 November 2016 -- Moody's Investors Service has today upgraded the Probability of Default Rating (PDR) of French life science contract manufacturer Novasep Holding SAS (Novasep or the company) to Caa2-PD/LD from Ca-PD following the successful completion of the exchange offer announced on 26 September 2016, classified as distressed exchange by Moody's. Concurrently, Moody's has affirmed Novasep's Corporate Family Rating (CFR) at Caa2. The outlook on all ratings has been revised to stable from negative.
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