Moody’s reviews CNG, rates notes Caa2

Moody's Investors Service said it placed on review for upgrade CNG Holdings, Inc.'s Caa2 corporate family and senior secured ratings.

Moody's also assigned a Caa2 rating to CNG's planned $310 million of five-year senior secured notes and placed the rating on review for upgrade.

Upon completion of the new debt issuance, Moody's said it expects to upgrade the company's corporate family rating and senior secured debt rating for the newly issued notes to B3 from Caa2.

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