Oops my apologies on the last post. Looks like moody's downgraded four notches. So now the SWN notes are 3 notches into junk. S&P needs to wake up and downgrade lower.
https://www.moodys.com/research/Moodys-concludes-reviews-for-9-US-Baa-rated-EP-companies--PR_344095
SWN SHOULD HAVE BEEN DOWNGRADED A LONG TIME AGO. And I would argue one notch below investment grade is NOT ENOUGH!! SWN's bonds are already trading at 25-50% below par.
Just shows how bad the credit ratings are. And their role in the worst financial disaster since the great depression when CDOs were rated AAA based solely on priority than the quality of the underlying assets.