Moody’s cuts Sanchez Energy on bankruptcy

Moody's Investors Service said it downgraded Sanchez Energy Corp.’s probability of default rating to D-PD from Caa1-PD, the company’s corporate family rating to Ca from Caa1, senior unsecured notes to C from Caa2 and senior secured first-lien notes to Caa1 from B2 on Sanchez’s filing for relief under Chapter 11.

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