New York, October 25, 2016 -- Moody's Investors Service, ("Moody's") downgraded American Gilsonite Holding Company's probability of default rating (PDR) to D-PD from Ca-PD/LD and affirmed all other ratings including the corporate family rating (CFR) at Ca following the announcement that American Gilsonite and its subsidiaries commenced voluntary petitions under Chapter 11 of the United States Bankruptcy Code. The rating outlook is stable. Subsequent to today's actions, all ratings of American Gilsonite will be withdrawn as the company has entered bankruptcy proceedings.

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