New York, April 18, 2016 -- Moody's Investors Service (Moody's) downgraded Goodrich Petroleum Corporation's (Goodrich) Probability of Default Rating (PDR) to D-PD from Caa3-PD, Corporate Family Rating (CFR) to C from Caa3, and the unsecured notes to C from Ca. The downgrades follow the company's announcement that it had voluntarily filed for reorganization under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division. Goodrich's other ratings were unchanged and outlook remained negative.

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