Moody's confirms Downstream's CFR and affirms secured notes at B3 following termination of tender offer
$285 million of rated debt affected. New York, December 20, 2016-- Moody's Investors Service today confirmed Downstream Development Authority's B3 Corporate Family Rating and B3-PD Probability of Default Rating. Both ratings were taken off of review for upgrade where they were placed on December 5 following the company's announcement of a planned refinancing of its 10.5% $285 million senior secured notes due 2019. The B3 rating on these senior secured notes was affirmed.
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