Moody's downgrades Pinnacle's CFR to Ca, outlook stable
New York, December 01, 2016-- Moody's Investors Service, downgraded Pinnacle Operating Corporation's Corporate Family Rating to Ca from Caa1. The downgrade reflects Pinnacle's precarious liquidity position with minimal cash and the current revolver coming due within one year. The action also reflects the heightened risk of a distressed restructuring that could result in a meaningful impairment to creditors.
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