Moody's rates Magnum notes Caa1

Moody's Investors Service said it assigned Magnum Hunter Resources Corp. a B3 corporate family rating, a B3 probability of default rating and a Caa1 rating to the proposed $450 million senior unsecured notes.

Moody's also assigned an SGL-3 speculative grade liquidity rating.

The outlook is stable.

Moody's said that the Caa1 rating on the senior unsecured notes reflects both the overall probability of default of Magnum, to which Moody's assigns a probability of default rating of Caa1, and a loss given default of LGD4.

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