Babcock & Wilcox Company (The) -- Moody's: Babcock & Wilcox's Ba1 Ratings Unaffected by Recent Shareholder Friendly Actions & Potential Loss of NNSA Contract

New York, January 15, 2013 -- The Babcock & Wilcox Company (B&W) was recently notified by the National Nuclear Security Administration (NNSA) that its team was not selected to lead the combined Management & Operating (M&O) contract for the Y-12 National Security Complex and Pantex Plant says Moody's Investors Service. B&W has maintained a contract with the NNSA for the management and operation of these facilities for the past 12 years. B&W also recently initiated a quarterly dividend and announced a share repurchase program. Moody's views these actions as credit negative, but does not expect the recent shareholder friendly initiatives or the potential loss of this contract to affect the credit ratings of B&W due to several mitigating factors. For further details please refer to the issuer comment dated January 15, 2013 and posted on www. moodys.com.

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