Moody’s eyes Tullow for downgrade

Moody's Investors Service said it placed Tullow Oil plc’s ratings, including the B2 rating of the $1.7 billion of backed senior secured notes due in 2026, the Caa2 rating on the $800 million of backed senior unsecured notes due 2025 and B3 corporate family rating, on review for downgraded. The agency changed the outlook to ratings under review from positive.

The decision to review Tullow was driven by the recent downgrade of the government of Ghana’s ratings and the review its ratings for further downgrade, the agency said.

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