Moody's rates Atlas Energy loan B3

Moody's Investors Service said it assigned Atlas Energy, LP a B3 rating to its proposed $240 million six-year senior secured term loan B, a B3 corporate family rating, a B3-PD probability of default rating and an SGL-2 speculative grade liquidity rating.

The outlook is stable.

Term loan proceeds will be used to repay existing revolving credit facility borrowings, to buy preferred shares issued by Atlas Resource Partners, LP), and to cover the purchase price of certain natural gas assets in the Arkoma basin from EP Energy.

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