Moody’s lowers Tapstone

Moody's Investors Service said it downgraded Tapstone Energy, LLC's corporate family rating to Ca from Caa1 and its probability of default rating to Ca-PD from Caa1-PD. Moody's also downgraded the rating for Tapstone's senior unsecured notes to C from Caa2. The outlook remains negative.

“The downgrade reflects Tapstone's skipped coupon payment on its senior notes due 2022 that was due on December 2, 2019, raising the likelihood of a potential payment acceleration, debt restructuring, or default in the next 30 days,” said Moody’s in a press release.

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