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  • Moody's

    Basic Energy Services, Inc. -- Moody's downgrades Basic Energy's notes to Caa2

    Moody's also downgraded Speculative Grade Liquidity (SGL) rating to SGL-3 from SGL-2. "The downgrade of Basic's ratings to Caa1 reflects slow recovery in the business amid a decelerating market outlook, that we expect will keep financial leverage high", commented Elena Nadtotchi, Moody's Senior Credit Officer.