Moody’s cuts Swift Energy PDR upon bankruptcy

Moody's Investors Service said it downgraded Swift Energy Co.’s probability of default rating to D-PD from Ca-PD and affirmed its other ratings following the company's announcement that it filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware on Dec. 31.

Moody's will withdraw all ratings for the company in the near future.

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