Moody's cuts Everest Acquisition

Moody's Investors Service said it downgraded the senior unsecured note rating for Everest Acquisition LLC and Everest Acquisition Finance Inc. to reflect the possibility that the company's initial capitalization may include more secured debt and less unsecured debt than originally proposed.

The unsecured senior note rating has been changed to B2 from B1 to reflect the possibility of a greater amount of debt with a priority claim.

The corporate family ratings of Ba3 and senior secured debt rating of Ba3 remain unchanged.

The outlook is stable.

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