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Pacific Drilling S.A. -- Moody's rates Pacific Drilling CFR at Caa2; Outlook Stable

Moody's Investors Service, ("Moody's") assigned ratings to Pacific Drilling S.A. (PacDrilling), including a Caa2 Corporate Family Rating (CFR), a Caa2-PD Probability of Default Rating (PDR), a Caa1 first lien senior secured notes rating and a Caa3 second lien senior secured notes rating. Moody's also assigned an SGL-3 Speculative Grade Liquidity (SGL) rating. On July 31, 2018 the company filed a plan of reorganization to deleverage the company's balance sheet and strengthen its liquidity.