Moody's: Vanguard notes Caa1

Moody's Investors Service said it assigned a Caa1 rating to Vanguard Natural Resources, LLC's senior unsecured notes due 2020.

The outlook is stable.

"The $200 million add-on to Vanguard's existing notes, in addition to the recent equity offering of approximately $182.3 million, will provide incremental available liquidity under its revolver and flexibility to fund its future capex and/or acquisitions," Moody's analyst Arvinder Saluja said in a news release.

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