London, 06 March 2015 -- Moody's Investors Service downgraded Ithaca Energy Inc.'s corporate family rating (CFR) to B3 from B2, the probability of default rating (PDR) rating to B3-PD from B2-PD, and the rating for its senior unsecured notes due 2019 to Caa2 from Caa1, with a loss given default assessment of LGD5 (88%). The notes are guaranteed on a senior subordinated basis by certain Ithaca subsidiaries. The negative rating outlook is also maintained.
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