Moody's deems Edcon's capital restructuring a distressed exchange and withdraws all ratings
London, 14 February 2017-- Moody's Investors Service, has declared Edcon Holdings Limited's capital restructuring to be a distressed exchange and an effective default on the company's rated debt instruments. At the same time, Moody's has withdrawn Edcon's Ca corporate family rating and Ca-PD/LD probability of default rating as well as the Ca rating to the super senior PIK notes due 2019, the C rating to the senior secured notes due March 2018 and the C rating to senior secured PIK...
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