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Published on 5/10/2016 in the Prospect News Bank Loan Daily, Prospect News Distressed Debt Daily and Prospect News High Yield Daily.

Moody’s cuts, will withdraw Chaparral

Moody's Investors Service said it downgraded Chaparral Energy, Inc.'s probability of default rating to D-PD from C-PD and affirmed its other ratings following the company's announcement that it filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware on May 9.

The outlook remains stable.

Moody's will withdraw all ratings for the company in the near future.


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