OREANDA-NEWS. Moody's Investors Service has today upgraded the corporate family rating (CFR) of Innovia Group (Holding 3) Ltd (Innovia), a leading producer of polymer film for industrial applications and banknotes, to B1 from B2 and its probability of default rating (PDR) to B1-PD from B2-PD. Concurrently, Moody's has affirmed the B2 rating of the Senior Secured Floating Rate Notes (FRNs) issued by Innovia Group (Finance) plc. The outlook on all ratings is stable.