Moody's: Berry Petroleum notes B2

Moody's Investors Service said it assigned a B2 rating to Berry Petroleum Co.'s offering of $600 million senior unsecured notes due 2022.

The outlook is stable.

The proceeds of the offering will be used for debt repayment.

"This notes offering will extend the maturity profile of Berry's debt structure at an attractive, lower cost coupon, further solidifying its capital structure, upon which Berry continues to grow its increasingly oil-leveraged production," Moody's vice president Andrew Brooks said in a news release.

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