New York, November 28, 2016 -- Moody's Investors Service ("Moody's") downgraded Veritas Bermuda Ltd.'s corporate family rating to B3 from B2 and downgraded its first lien term loan B-1, Euro first lien term loan B-1, secured notes, and senior secured revolver and multicurrency revolver to B2 from B1. Moody's also downgraded the senior secured term loan B-2 and unsecured guaranteed global notes to Caa2 from Caa1. The downgrade of the CFR was driven by continued operational and sales challenges since separating from Symantec Corp. in January 2016. The ratings outlook is stable.

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