EPL Oil & Gas, Inc. -- Moody's downgrades EXXI's CFR to Caa3 and PDR to Caa3-PD/LD; negative outlook

New York, October 22, 2015 -- Moody's Investors Service downgraded Energy XXI Gulf Coast, Inc.'s (EXXI) Corporate Family Rating (CFR) to Caa3 from Caa2, its Probability of Default Rating to Caa3-PD/LD from Caa2-PD, its second lien secured notes rating to Caa1 from B2, and its senior unsecured notes rating to Ca from Caa3. EPL Oil & Gas, Inc. is EXXI's wholly-owned subsidiary, and its senior unsecured notes were also downgraded from Caa3 to Ca. Moody's also lowered EXXI's Speculative Grade Liquidity Rating to SGL-4 from SGL-3. The ratings outlook is negative.

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