Moody’s cuts MVK

Moody's Investors Service said it downgraded MVK Intermediate Holdings, LLC's probability of default rating to D-PD from Ca-PD after the company announced on Friday that it filed for protection under Chapter 11 of the U.S. Bankruptcy Code.

The company's other ratings consisting of a Ca corporate family rating and the Ca ratings on the senior secured first-lien revolving credit facility, senior secured first-lien term loan and negative outlook are unchanged, Moody’s said.

“The CFR and the rating on the company's senior secured first-lien revolver and term loan reflect Moody's view on potential recoveries,” the agency said.

Moody’s said it will withdraw its ratings for MVK.

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