Moody's downgrades Young's rating to Caa2 from Caa1, negative outlook
London, 09 March 2017-- Moody's Investors Service downgraded UK-based fish and seafood producer Lion/Gem Luxembourg 3 S.a.r.l.' s corporate family rating to Caa2 from Caa1, and probability of default rating to Caa2-PD from Caa1-PD. The rating outlook has changed to negative from stable. Today's rating action reflects Moody's view that rising input costs and fierce competition will pressure Young's profitability over the next 12 to 18 months.
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