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28.05.2014 19:40:00
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Polymer Group, Inc. -- Moody's downgrades Polymer Group's CFR to B2; outlook stable
New York, May 28, 2014 -- Moody's Investors Service has downgraded Polymer Group Inc.'s ("PGI") Corporate Family Rating ("CFR") to B2 from B1. Moody's downgraded to B2 from B1 the ratings on the company's existing secured debt, assigned a B2 rating to a new senior secured term loan that will rank pari passu with existing secured debt, and assigned a Caa1 to $200 million of senior unsecured notes. These actions conclude the review for downgrade initiated on January 29, 2014. The rating outlook is stable.
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