Moody's lowers Nobina

Moody's Investors Service said it downgraded the corporate family rating and the probability of default rating of Nobina AB to Caa1 from B3.

The ratings remain under review for possible downgrade.

Moody's said the action reflects its material concerns with regards to Nobina's capacity to refinance the approaching maturity of its €85 million senior secured notes due Aug. 1, 2012 within the next three months in a continued fragile economic environment and in the absence of sufficient internal liquidity sources to redeem the notes.

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