Phillips-Medisize Corporation -- Senior secured first lien credit facilitiesMoody's reviews Phillips-Medisize's B3 CFR for upgrade on pending acquisition by Molex

New York, August 18, 2016 -- Moody's Investors Service placed the ratings of Phillips-Medisize Corporation ("Phillips") under review for upgrade, including the company's B3 Corporate Family Rating and B3-PD Probability of Default Rating. Instrument ratings placed under review for upgrade include the B2 senior secured first lien credit facilities' rating and Caa2 senior secured second lien term loan rating. This action follows the announcement that Molex, LLC, a wholly-owned subsidiary of Molex Electronic Technologies, LLC (Baa2 Stable) has entered into a binding agreement to acquire Phillips. Financial terms of the transaction were not disclosed.

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