Moody's cuts Truvo

Moody's Investors Service said it downgraded the corporate family rating of Truvo Subsidiary Corp. to Ca from Caa3, its probability of default rating to Ca from Caa2 and its €395 million and $200 million senior notes due 2014 to C from Ca.

The outlook is stable.

The downgrade reflects concerns about the company's capital structure, which Moody's said it considers unsustainable.

There is uncertainty about how the company will strengthen its credit profile and reduce its overall debt burden, the agency said.

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