Moody's downgrades Steinway's ratings (CFR to Caa1); rating outlook is stable
New York, December 22, 2016-- Moody's Investors Service downgraded Steinway Musical Instrument's ratings due to the company's weak operating performance and the risk that metrics will remain soft for an extended period. The Corporate Family Rating was downgraded to Caa1 from B2. The rating outlook is stable.
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