Moody's: EXCO view developing

Moody's Investors Service said it revised EXCO Resources, Inc.'s outlook to developing from positive reflecting the uncertainty caused by its chairman and chief executive officer and an investor group's proposal to purchase all of the outstanding shares for $20.50 per share.

EXCO's corporate family rating is B1 and the company's $750 million senior notes are rated B3.

The bid has initiated a series of events that could lead to a recapitalization or sale of the company, the agency said.

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