New York, January 14, 2016 -- Moody's Investors Service today downgraded the senior unsecured rating of Joy Global Inc. (Joy) to Ba3 from Baa3, and reinstated a corporate family rating (CFR) of Ba3, assigned a probability of default rating (PDR) of Ba3-PD and assigned a Speculative Grade Liquidity rating of SGL-2. The downgrade concludes the review for downgrade initiated on December 17, 2015 and reflects the continued pressure on the credit metrics in light of the challenges facing the metals and mining sector, the company's end market. The outlook is stable.
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