02.04.2014 15:53:00

Tullow Oil plc -- Moody's assigns (P)B1 rating to Tullow Oil's new senior notes and affirms Ba2 CFR; outlook stable

London, 02 April 2014 -- Moody's Investors Service has today assigned a (P)B1 rating with a loss given default assessment of LGD5 (87%) to the senior notes maturing in 2022 (the Notes) to be issued by Tullow Oil plc (Tullow or the company) and guaranteed on a senior subordinated basis by certain of its subsidiaries. Concurrently, Moody's has affirmed Tullow's corporate family rating (CFR) of Ba2 and probability of default rating (PDR) of Ba2-PD, and the B1 rating of its USD650 million senior notes maturing in 2020. The outlook on the ratings is stable.

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