New York, August 24, 2016 -- Moody's Investors Service, ("Moody's") changed California Resources Corporation's (CRC) Probability of Default Rating to Caa2-PD/LD following the completion of the company's debt tender offer on August 17th. The existing debt ratings and Caa2 Corporate Family Rating (CFR) were affirmed. The Speculative Grade Liquidity Rating is affirmed at SGL-4 and the outlook is negative.
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