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Murray Energy Corporation -- Moody's appends limited default designation to Murray Energy's PDR; downgrades secured notes to Caa3 from Caa2

Moody's Investors Service, ("Moody's") affirmed Murray Energy Corporation's ("Murray") Caa1-PD Probability of Default Rating ("PDR") and appended a limited default ("LD") designation to the PDR., which will be removed in three business days. Moody's downgraded the rating on the company's 11.25% Second Lien Senior Secured Notes due 2021 to Caa3 from Caa2 following a debt exchange executed below face value that left the remaining notes not subject to the exchange in a lower priority position in the company's capital structure. Moody's assigned B3 ratings to the company's senior secured term loans, which will be extended and receive additional collateral as part of the transaction.