New York, January 30, 2014 -- Moody's Investors Service (Moody's) today assigned a first time Corporate Family Rating (CFR) and Probability of Default Rating (PDR) of B3 and B3-PD, respectively, to Diamond Foods, Inc. (Diamond). Moody's also assigned a B2 (LGD 3, 42%) rating to its proposed $415 million senior secured term loan, a Caa2 (LGD 5, 86%) rating to its proposed $230 million senior unsecured notes , and an SGL-2 Speculative Grade Liquidity Rating. The outlook is stable. Proceeds from the issuance will be used to refinance existing debt.

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