Moody’s lowers Enviva post-filing

Moody's Ratings downgraded Enviva Inc.'s probability of default rating to D-PD from Ca-PD after the company filed for Chapter 11 bankruptcy.

Moody's also affirmed the company's Ca corporate family rating and the C ratings on senior unsecured notes due 2026, Industrial Development Authority of Sumter County, Alabama tax-exempt facilities revenue bonds, Series 2022, and backed tax exempt revenue bonds, Series 2022, issued by the Mississippi Business Finance Corporation.

The speculative grade liquidity rating was maintained at SGL-4 and the outlook was changed to stable from negative.

Because of the Chapter 11 filing, the ratings for the company will be withdrawn subsequent to these actions.

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