Moody’s drops Light Tower on bankruptcy

Moody's Investors Service said it downgraded Light Tower Rentals, Inc.'s probability of default rating to D-PD from C-PD given the company filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas on Aug. 30.

The agency affirmed the company’s corporate family rating and senior secured notes rating at C.

The outlook is stable.

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