London, 16 September 2016 -- Moody's Investors Service, ("Moody's) has today affirmed Floatel International Ltd's ("Floatel" or "the company") Corporate Family Rating (CFR) of Caa1 and Probability of Default Rating (PDR) of Caa1-PD. Concurrently, Moody's has affirmed the Caa1 rating on the company's $650 million senior secured term loan B due 2020 borrowed by Floatel. The outlook on all ratings is revised to stable from negative.

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