New York, May 16, 2016 -- Moody's Investors Service, ("Moody's") assigned a B2 Senior Unsecured rating to Private National Mortgage Acceptance Company, LLC's ("PennyMac") proposed $300 million of senior unsecured notes, and affirmed the B1 Corporate Family Rating ("CFR"). In addition, Moody's downgraded to B2 from B1 PennyMac's long-term issuer rating to reflect the increased amount of the company's senior unsecured obligations as a result of the proposed note issuance which will negatively affect senior unsecured creditors' loss given default. Moody's then withdrew the long-term issuer rating as Moody's does not typically assign issuer ratings for non-investment grade entities with senior unsecured ratings. The rating outlook is stable.

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