Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Chesapeake Energy Corporation and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.

Moody's Investors Service ("Moody's") downgraded Chesapeake Energy Corporation's (Chesapeake) Corporate Family Rating (CFR) to B2 from B1, its Probability of Default Rating (PDR) to B2-PD from B1-PD, and its senior unsecured notes ratings to B3 from B2. Concurrently, Moody's downgraded the CFR of Chesapeake's wholly-owned subsidiary Brazos Valley Longhorn, LLC (Brazos Valley) to B2 from B1 and the senior unsecured notes rating of Brazos Valley's predecessor entity, WildHorse Resource Development Corporation to B3 from B2.

HOUSTON , July 18, 2019 /PRNewswire/ -- WildFire Energy I LLC ("WildFire", or the "Company"), an oil and gas exploitation and production company headquartered in Houston, Texas , today ...

Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Chesapeake Energy Corporation and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.

Moody's Investors Service ("Moody's") downgraded Chesapeake Energy Corporation's (Chesapeake) Corporate Family Rating (CFR) to Caa1 from B2, its Probability of Default Rating (PDR) to Caa1-PD from B2-PD, and its senior unsecured notes ratings to Caa2 from B3. Concurrently, Moody's downgraded the CFR of Chesapeake's wholly-owned subsidiary Brazos Valley Longhorn, L.L.C. (Brazos Valley) to Caa1 from B2 and the senior unsecured notes rating of Brazos Valley's predecessor entity, WildHorse Resource Development Corporation to Caa2 from B3.

Moody's Investors Service (Moody's) affirmed Chesapeake Energy Corporation's (Chesapeake) Probability of Default Rating (PDR) at Caa1-PD and appended the rating with a "/LD" designation. Additionally, Moody's upgraded the company's Speculative Grade Liquidity (SGL) Rating to SGL-3 from SGL-4. At the same time, Moody's withdrew Brazos Valley Longhorn, L.L.C.'s (Brazos Valley) Caa1 Corporate Family Rating (CFR) and the Caa2 senior unsecured notes rating of Brazos Valley's predecessor entity, WildHorse Resource Development Corporation (WildHorse).