Moody's Cuts OGX

Moody's Cuts OGX

Brazil Corporate & Sovereign Strategy

Moody's has cut OGX's ratings to B2 from B1, it says, citing production and liquidity concerns. The EBX group oil and gas company's ratings are under review for further downgrade. The ratings move "reflects the concern over tightening liquidity over the next 12-18 months, with the expected need for OGX to pursue alternative liquidity options in order to build a healthy cash cushion through 2014," Moody's says. S&P lowered OGX last week, taking its credit rating to a B minus from B, citing poor p

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