R&R PIK plc -- Moody's revises R&R's rating outlook to stable from negative; affirms the ratings

London, 22 December 2015 -- Moody's Investors Service has today affirmed the B2 corporate family rating (CFR), B1-PD probability of default rating (PDR) of R&R Ice Cream plc's ("R&R" or "the company"). Concurrently, Moody's has affirmed the B2 rating of the GBP315 million senior secured notes due 2020, the B2 rating of the Euro and Australian Dollar denominated EUR255 million equivalent senior secured notes due 2020 raised by R&R and the Caa1 rating of the EUR253 million senior PIK Toggle notes due 2018 raised by R&R PIK plc ("the PIK Notes"). Moody's has revised the outlook on all ratings to stable from negative.

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