Lone Pine Resources Inc. -- Moody's downgrades Lone Pine's CFR to Caa1; outlook changed to negative
Approximately $200 million of debt affected
Toronto, December 05, 2012 -- Moody's Investors Service downgraded Lone Pine Resources Inc.'s (Lone Pine) Corporate Family Rating (CFR) and Probability of Default Rating (PDR) to Caa1 from B3. The Caa2 rating on Lone Pine's senior unsecured notes was affirmed. The Speculative Grade Liquidity was changed to SGL-4 from SGL-3 and the rating outlook was changed to negative from stable.