IDH Finance plc -- Moody's assigns definitive ratings to IDH/Turnstone's GBP400 million secured notes

Frankfurt am Main, June 10, 2013 -- Moody's Investors Service has today assigned definitive B2 ratings with a loss given default assessment of LGD4 (51%) to the GBP200 million senior secured fixed rate notes due 2018 and the GBP125 million senior secured floating rate notes due 2018 as well as a definitive Caa1 /LGD 6 (92%) rating to the GBP 75 million second lien notes due 2019, all of which have been issued by IDH Finance plc, a subsidiary of Turnstone Midco 2 Limited ("IDH"). Moody's assigned a B2 corporate family rating (CFR) and a B2-PD probability of default rating to Turnstone Midco 2 Limited on 20 May 2013 which remains unchanged. The rating outlook on all ratings is stable.

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