Foresight Energy, LLC -- Moody's downgrades Foresight's CFR to Caa3, outlook negative

New York, March 24, 2016 -- Moody's Investors Service today downgraded all ratings of Foresight Energy, LLC including the corporate family rating to Caa3 from Caa1, the probability of default rating (PDR) to Caa3-PD/LD from Caa1-PD, senior unsecured rating to Ca from Caa3, and senior secured rating to Caa2 from B2. The speculative grade liquidity rating is unchanged at SGL-4. Moody's appended an /LD designation to Foresight's PDR, reflecting the fact that the company failed to make the interest payment on its 2021 Senior Notes, which was due February 16, 2016, within the 30-day grace period. The LD designation will be removed within 3 business days and the PDR will be Caa3-PD. The outlook is negative.

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