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25.10.2016 18:35:00
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Basic Energy Services, Inc. -- Moody's downgrades Basic Energy's PDR to D-PD
New York, October 25, 2016 -- Moody's Investors Service, ("Moody's") downgraded Basic Energy Services, Inc's (Basic) Probability of Default Rating (PDR) to D-PD from Ca-PD, following the company's announcement today that it has filed a voluntary petition for relief under chapter 11 of the United States Bankruptcy Code. At the same time, Moody's affirmed Basic's Ca Corporate Family Rating and its Ca senior unsecured notes rating. The SGL-4 Speculative Grade Liquidity Rating is unchanged.
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