Moody's Investors Service ("Moody's") has today downgraded the corporate family rating (CFR) to B3 from B2 and the probability of default rating (PDR) to B3-PD from B2-PD of NorthPole Newco S.a r.l. (NSO), the top entity of the restricted group of Israeli-based cyber security and intelligence software provider NSO Group. Concurrently, Moody's has downgraded to B3 from B2 the instrument rating of the $300 million senior secured first lien term loan B1 (TLB1) and €176.96 million senior secured first lien term loan B2 (TLB2) facilities both maturing in March 2025 and the $30 million senior secured revolving credit facility (RCF) maturing in March 2024. The outlook on all ratings remains negative.