S&P lifts RDS Ultra-Deepwater

Standard & Poor's said it raised the rating on RDS Ultra-Deepwater Ltd.'s $270 million subordinated secured notes due 2017 to B from B-.

The outlook is positive.

The action reflects the improvement in the company's efficiency rates after the start of commercial operations, S&P said.

This has contributed to significant cash flow generation that has allowed for a rapid debt reduction, the agency said.

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