New York, November 17, 2016 -- Moody's Investors Service, ("Moody's") assigned a limited default (LD) designation to Ascent Resources -- Marcellus, LLC's ("Ascent") Ca-PD Probability of Default Rating (PDR), changing the PDR to Ca-PD/LD from Ca-PD. This action follows the company's purchase of $102 million of its $450 million second lien term loan at a deep discount. Ascent's Loss Given Default (LGD) point estimate on its second lien term loan was revised to LGD-5 from LGD-6 and its LGD point estimate on its first lien term loan was revised to LGD-3 from LGD-4, reflecting the repurchases of its second lien term loan. Ascent's other ratings are unchanged and the outlook remains negative.

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