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Moody's cuts Neenah Foundry
Moody's Investors Service said it downgraded Neenah Foundry Co.'s probability of default rating to D from Caa3.
The outlook is negative.
The downgrade follows news that Neenah Enterprises, Inc. and its subsidiary, Neenah Foundry Co., have filed voluntary Chapter 11 petitions in the U.S. Bankruptcy Court for the District of Delaware, Moody's said.
Moody's also said it has withdrawn this rating because the issuer has entered bankruptcy.
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