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Moody’s drops SAExploration, notes to Caa2
Moody's Investors Service said it downgraded SAExploration Holdings, Inc.'s corporate family rating and the rating on its notes to Caa2 from Caa1.
The speculative grade liquidity rating was lowered to SGL-4 from SGL-3.
The outlook is negative.
"SAExploration's CFR was downgraded due to weak liquidity and our expectations that depressed industry conditions will negatively impact its cash flows in 2016," Moody's vice president James Wilkins said in a news release.
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