 Moodys Investors Service Moodys downgraded Baytex Energy Corp.s Baytex Corporate Family Rating CFR to B2 from B1, Probability of Default Rating PDR to B2-PD from B1-PD, senior unsecured rating to B3 from B2 and Speculative Grade Liquidity SGL Rating to SGL-3 from SGL-2. The outlook was changed to negative from stable. 