Tullow Oil plc -- Moody's assigns a Ba2 CFR to Tullow Oil plc; outlook stable

London, 24 October 2013 -- Moody's Investors Service has today assigned a corporate family rating (CFR) of Ba2 and a probability of default rating (PDR) of Ba2-PD to Tullow Oil plc (Tullow or the company). Concurrently, Moody's has assigned a (P)B1 rating with a loss given default assessment of LGD6 (91%) to the senior notes maturing in 2020 (the Notes) to be issued by the company and guaranteed on a senior subordinated basis by certain of its subsidiaries. The outlook on the ratings is stable. This is the first time Moody's has assigned ratings to the company.

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