Moody’s cuts Sheridan Investment

Moody’s Investors Service cut Sheridan Investment Partners II, LP, Sheridan Production Partners II-A, LP and Sheridan Production Partners II-M, LP, (collectively Sheridan II) probability of default ratings to D-PD from Ca-PD, corporate family ratings to C from Ca and the ratings on senior secured bank credit facility to Ca from Caa2.

The downgrades come after Sheridan filed for protection under Chapter 11 of the U.S. Bankruptcy Code.

Moody’s plans to withdraw all its Sheridan II ratings.

The outlook remains negative.

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