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Hornbeck Offshore Services, Inc. -- Moody's changes Hornbeck's PDR to Caa3-PD/LD and downgrades senior notes to Ca

Moody's Investors Service (Moody's) appended Hornbeck Offshore Services, Inc.'s (Hornbeck) Caa3-PD Probability of Default Rating (PDR) with a "/LD" designation to indicate the limited default resulting from its February 2019 exchange offer of $131.6 million of senior unsecured notes due 2020 for approximately $111.9 million of new senior secured second-lien term loan due 2025. Concurrently, Moody's affirmed Hornbeck's Corporate Family Rating (CFR) at Caa3 and downgraded the unsecured notes rating to Ca from Caa3.