Moody’s cuts Ultra Petroleum PDR to D-PD

Moody's Investors Service said it changed Ultra Petroleum Corp.'s probability of default rating to D-PD from Ca-PD/LD following the company's filing voluntary petitions in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, seeking relief under the provisions of Chapter 11 of the United States Bankruptcy Code.

Concurrently, the agency affirmed Ultra's Ca corporate family rating, C senior unsecured notes rating and SGL-4 speculative grade liquidity rating.

The outlook remains negative.

Moody's will withdraw all of Ultra's ratings and outlook in the near future.

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