Moody’s rates EnVen, notes

Moody's Investors Service said it assigned Energy Ventures GoM LLC (EnVen) a B3 corporate family rating, B3-PD probability of default rating and a Caa1 rating to its proposed senior secured second-lien notes.

The outlook is stable.

"EnVen's first time B3 rating reflects the expectation that the company will improve its weak reserve position in the next 12 months and will grow its production on the back of on-going investment," Moody's vice president, senior credit officer Elena Nadtotchi said in a news release.

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