Paternoster Holding IV GmbH -- Moody's changes outlook on Paternoster's B2 CFR to negative from stable

Frankfurt am Main, February 29, 2016 -- Moody's Investors Service, (Moody's) has today changed the outlook to negative, from stable on all of the ratings pertaining to Paternoster Holding III GmbH and Paternoster Holding IV GmbH. The ratings have been affirmed. The affirmed ratings include the B2 corporate family rating (CFR) and B2-PD probability of default rating (PDR) assigned to Paternoster Holding III GmbH (the Issuer), the indirect parent company of Wittur International Holding GmbH (Wittur). Additionally, Moody's has affirmed the Caa1 rating assigned to the Issuer's EUR225 million 8-year Senior Notes and the B1 rating assigned to the EUR195 million 7-year senior secured Term Loan B (Term Loan) and the EUR65 million 6-year senior secured Revolving Credit Facility raised by Paternoster Holding IV GmbH, a fully owned subsidiary of the Issuer.

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