New York, November 24, 2015 -- Moody's Investor Service ("Moody's") affirmed Prestige Brands, Inc.'s ("Prestige Brands" or "the company") B2 Corporate Family Rating and its B2-PD Probability of Default rating following the company's announcement that it had entered into a definitive agreement to acquire DenTek Oral Care, Inc. ("DenTek") from TSG Consumer Partners LLC in a transaction valued at approximately $225 million. At the same time, Moody's lowered Prestige Brands' Speculative Grade Liquidity Rating to SGL-2 from SGL-1. The outlook is stable.

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