Harman Finance International S.C.A. -- Moody's places Harman's Baa3 senior unsecured rating under review for upgrade following Samsung acquisition announcement

New York, November 15, 2016 -- Moody's Investors Service ("Moody's") placed Harman International Industries, Inc's. ("Harman") Baa3 senior unsecured rating under review for upgrade. This follows yesterday's announcement that Samsung Electronics Company, Ltd. ("Samsung") plans to acquire Harman for $112 per share in cash or about $8.0 billion for the equity, excluding transaction expenses. The acquisition, which is subject to Harman shareholder approval, antitrust reviews by US and foreign regulatory authorities, and review by the Committee on Foreign Investment in the United States ("CIFIUS"), is expected to close in the middle of 2017.

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