New York, July 13, 2016 -- Moody's Investors Service downgraded Boart Longyear Limited's (Boart) Corporate Family Rating (CFR) to Caa2 from Caa1 and Probability of Default rating to Caa2-PD from Caa1-PD. Moody's also downgraded Boart Longyear Management Pty Limited's senior secured note rating to Caa1 from B3 and senior unsecured note rating to Caa3 from Caa2. The speculative grade liquidity rating was changed to SGL-3 from SGL-2. The rating outlook is negative.
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