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Seat Pagine Gialle SpA says Moody's downgraded Seat's corporate rating

Monday, 2 Dec 2013 07:45am EST 

Seat Pagine Gialle SpA:Says the rating agency Moody’s has decided to downgrade from Ca to C Seat’s corporate-family-rating (CFR) and the rating of the Senior Secured Notes.Says Moody's has downgraded the probability of default rating (PDR) to D-PD.Says subsequent to this decision, Moody’s has announced that it will also withdraw all of the company’s ratings.Says Moody's action followed the notice of the company on Nov. 15 regarding the predictable and expected announcement of the postponement of the meeting of creditors, consequent to the application of the formal request made by the Commissioner to the Court of Turin.