Moody's lifts Dematic, notes

Moody's Investors Service said it upgraded to B2 from B3 the corporate family rating and the probability of default rating of Dematic Holding Sarl.

Concurrently, the agency said it upgraded the rating on the company's $300 million senior secured notes due 2016, issued by Dematic SA, to B2 from B3.

The outlook on both companies was changed to stable from positive.

"The upgrade of Dematic's ratings to B2 was prompted by the continued improvements in operating and financial performance since rating assignment in April 2011," said Kathrin Heitmann, Moody's lead analyst for Dematic, in a news release.

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