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Moody's lowers CCS Medical
Moody's Investors Service said it downgraded CCS Medical, Inc.'s probability-of-default rating to D from Caa1, corporate family rating to Ca from Caa1, first-lien senior secured credit facilities to Caa3 (LGD3, 31%) from B2 (LGD3, 31%) and the second-lien term loan to C (LGD5, 77%) from Caa2 (LGD5, 77%).
The downgrade was prompted by CCS's decision to file for Chapter 11 bankruptcy, according to the agency.
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