Moody’s Downgrades Ascent Resources Credit Profile to Basement

chart going downAlthough MDN caught and reported on the Bloomberg article questioning Aubrey McClendon’s high roller ways (see Has Aubrey McClendon Finally Hung Himself with High Debt?), we somehow missed the Moody’s announcement downgrading McClendon’s prodigal Ascent Resources, née American Energy Appalachia Holdings. The Moody’s downgrade of Ascent reads almost the same as the downgrade of EXCO Resources that we previously reported (see Moody’s Downgrades EXCO Resources Credit Profile to the Basement). In fact, Ascent’s rating is a step lower than EXCO’s–that’s how poor the outlook is for Ascent…

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