KION Group AG -- Moody's confirms KION's rating at Ba1; negative outlook

Frankfurt am Main, November 03, 2016 -- Moody's Investors Service has today confirmed the corporate family rating (CFR) of KION Group AG (KION) at Ba1, as well as its probability of default rating (PDR) at Ba1-PD. The outlook on the ratings is now negative. Concurrently Moody's has withdrawn the B2 CFR and the B2-PD PDR of DH Services Luxembourg S.a.r.l (Dematic), the Ba3 ratings assigned to the senior secured revolving credit facility and term loan of Mirror BidCo Corp and the positive outlook assigned to Mirror BidCo Corp. Please refer to the Moody's Investors Service's Policy for Withdrawal of Credit Ratings, available on its website, www.moodys.com. At the same time, Moody's has upgraded the $265 million senior unsecured notes of Dematic to Ba1 from Caa1. The outlook on Dematic has been changed to negative from positive. This action concludes the review process on KION's ratings initiated on 24 June 2016 upon KION's announcement of an acquisition of Dematic.

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