Moody's rates EP Energy loan Ba3

Moody's Investors Service said it assigned a Ba3 rating to the proposed $300 million second-lien term loan B add-on for EP Energy LLC.

The Ba3 corporate family rating and B2 senior note rating remain unchanged.

The outlook is stable.

"The new term loan B add-on has a relatively minor impact on the credit profile of EP Energy," Moody's senior credit officer Stuart Miller said in a news release.

"The term loan provides additional liquidity, but it also allows the company to increase its leverage against the same asset base. Operationally, the company is making progress in its transition from natural gas to oil with more than 90% of its 2012 capital budget earmarked for oil-focused projects," Miller added in the release.

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