Moody's downgrades Southcross Energy

Moody's Investors Service said it downgraded Southcross Energy Partners, LP's probability of default rating to D-PD from Ca-PD following news that the company filed a petition for relief under Ch. 11 of the U.S. bankruptcy code.

The company's Caa3 corporate family rating, Caa3 senior secured term loan rating and SGL-4 speculative grade liquidity rating were affirmed.

The outlook remains negative.

Shortly after the downgrades, Moody's will withdrew all of the company's ratings, Moody's said.

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