 Moodys Investors Service Moodys downgraded Ruby Pipeline, LLCs Ruby Corporate Family Rating CFR to B1 from Ba2, Probability of Default Rating PDR to B1-PD from Ba2-PD and senior unsecured notes rating to B1 from Ba2. The downgrade and negative rating outlook reflect Rubys increasing re-contracting risk in 2021 when its non-PGE contracts mature, and the weak pricing and volume environment for such re-contracting, said Amol Joshi, Moodys Vice President and Senior Credit Officer. 