CRC California Resources Corp

CALIFORNIA RESOURCES CORPORATION (CRC) SHAREHOLDER ALERT – Andrews & Springer LLC Is Investigating California Resources Corporation For Potential Breaches of Fiduciary Duty

Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against California Resources Corporation (NYSE:CRC) (“California Resources” or the “Company”).

If you currently own shares of California Resources and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/california-resources-class-action-investigation or contact Craig J. Springer, Esq. at [email protected], or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.

Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.

EN
28/09/2016

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Reports on California Resources Corp

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Moody's downgrades California Resources' PDR to D-PD on bankruptcy fil...

Rating Action: Moody's downgrades California Resources' PDR to D-PD on bankruptcy filing. Global Credit Research- 17 Jul 2020. New York, July 17, 2020-- Moody's Investors Service, downgraded California Resources Corp.' s Probability of Default Rating to D-PD from Ca-PD/LD.

Moody's downgrades California Resources' CFR and PDR to Ca, lowers cer...

Rating Action: Moody's downgrades California Resources' CFR and PDR to Ca, lowers certain other ratings. Global Credit Research- 07 Jul 2020. NOTE: On July 09, 2020, the press release was corrected as follows: In the Affirmations section of the debt list, for issuer California Resources Corp., the LGD rate of the Senior Secured Revolving Credit Facility was changed to LGD1.

Moody's downgrades California Resources' CFR and PDR to Ca, lowers cer...

Rating Action: Moody's downgrades California Resources' CFR and PDR to Ca, lowers certain other ratings. Global Credit Research- 07 Jul 2020. New York, July 07, 2020-- Moody's Investors Service, downgraded California Resources Corporation's Corporate Family Rating to Ca from Caa3, ratings on its senior secured first lien term loan due 2022 to Caa3 from Caa1 and ratings on its senior secured first lien term loan due 2021 to Ca from Caa3.

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High debt leverage, deeply distressed bond prices, production declines and the collapse in oil prices will greatly reduce cash flow in 2020 and point to a high likelihood of restructuring.

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