Moody's downgrades Euramax

Moody's Investors Service said it downgraded Euramax International, Inc.'s corporate family and probability of default ratings to Caa2 from Caa1.

The agency also downgraded Euramax's senior secured notes due 2015 to Caa2 from Caa1.

The outlook remains stable.

Moody's said the downgrade reflects its expectation that the turmoil in global financial markets and weakness in Europe will continue to hamper Euramax's revenues and operating margins as well as weaken key credit metrics.

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