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Prospect News home > News index > List of issuers M > Headlines for Magnetation LLC > News item
Published on 5/7/2015 in the Prospect News Bank Loan Daily, Prospect News Distressed Debt Daily and Prospect News High Yield Daily.

Moody’s drops Magnetation CFR, notes to C

Moody's Investors Service said it downgraded Magnetation LLC's probability of default rating to D-PD from Caa2-PD, corporate family rating to C from Caa2 and the senior secured notes to C from Caa2.

The outlook is stable.

The downgrades were prompted by the company's May 5 announcement that it voluntarily filed for relief under Chapter 11 of the United States Bankruptcy Code.


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