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Prospect News home > News index > List of issuers L > Headlines for Legacy Reserves LP > News item
Published on 6/19/2019 in the Prospect News Bank Loan Daily, Prospect News Convertibles Daily, Prospect News Distressed Debt Daily, Prospect News High Yield Daily and Prospect News Preferred Stock Daily.

Moody's lowers Legacy Reserves

Moody's Investors Service said it downgraded Legacy Reserves LP's probability of default rating to D-PD from Caa3-PD, corporate family rating to Ca from Caa3 and senior unsecured notes rating to C (LGD 5) from Ca (LGD 5).

The outlook remains negative.

These actions follow news that Legacy Reserves Inc. has, together with its subsidiaries, started voluntary cases under Ch. 11 in the U.S. Bankruptcy Court for the Southern District of Texas, Moody's said.


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