Moody's assigns overall covenant quality score of 3.26 to Post Holdings' US$630M senior notes offering due 2022

NEW YORK , May 23, 2014 (press release) – Moody's Investors Service has assigned an overall covenant quality score of 3.26 to Post Holdings, Inc's $630m _% Senior Notes due 2022. Subscribers can read the full report at: https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_170972. Moody's scores covenant protections on a five-point scale, with 1.0 denoting the strongest covenant protections for investors and 5.0, the weakest. Post Holdings, Inc's score compares with the US average of 3.56.

Moody's Covenant Quality Snapshots assess investor protections in six key risk categories: Cash leakage (dividends), Risky investments, Leveraging, Lien subordination, Structural subordination and Change of control.

View the scores of similar issues: www.moodys.com/covenantscores

See Moody's Covenant Quality Scoring Criteria: https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_150958

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