Moody's downgrades Hornbeck

Moody's Investors Service said it downgraded Hornbeck Offshore Services, Inc.'s probability of default rating to D-PD from Caa3-PD/LD following Hornbeck's Tuesday's voluntary filing under Chapter 11 of the bankruptcy code in the U.S. Bankruptcy Court for the Southern District of Texas.

Concurrently, Moody's downgraded Hornbeck's corporate family rating to Ca from Caa3 and senior unsecured notes rating to C from Ca. The speculative grade liquidity rating remains unchanged at SGL-4.

The outlook remains negative.

Moody’s plans to withdraw its ratings on Hornbeck.

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