Moody's rates Rough Rider notes B3

Moody's Investors Service said it assigned a B3/LGD5-72% rating to the proposed $150 million 9 7/8% senior unsecured notes due 2018 to be issued by Rough Rider Escrow, Inc., a subsidiary of Heckmann Corp.

Proceeds, along with bank debt and new equity shares, will be used to fund the purchase of Power Fuels, a privately held environmental services provider to onshore oil and gas exploration and production operators in the North Dakota area of the U.S.

The corporate family and probability of default ratings of Heckmann remain B3 and on review for possible upgrade, as does the Caa1/LGD4-65% rating on the outstanding $250 million 9 7/8% senior unsecured notes due 2018.

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