Moody's lowers EPIC Y-Grade

Moody's Investors Services said it downgraded EPIC Y-Grade Services, LP's corporate family rating to Caa2 from B3, the probability of default rating to Caa2-PD from B3-PD, the super-priority revolver rating to B1 from Ba3 and the senior secured term loan B rating to Caa2 from B3.

The downgrades conclude the review for possible downgrade Moody’s started on April 3, the agency said.

"The downgrade of EPIC Y-Grade's ratings reflects weak liquidity, capital funding shortfall and highly constrained near-term EBITDA generation," said Jonathan Teitel, a Moody's analyst, in a press release.

The outlook is negative.

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