Toronto, June 12, 2013 -- On June 11, 2013North American Energy Partners, Inc. (NAEP, B3 negative) announced that it had entered into an agreement to sell its piling division to Keller Group plc (unrated) for $227.5 million in cash at closing and additional cash proceeds of up to $92.5 million over the next three years. Moody's says the move is credit positive because NAEP will use the initial $210 million in net proceeds to reduce debt. Upon closing of the sale, NAEP's outlook may be changed to stable from negative. However, due to the reduced size and scale of the company an upgrade from the B3 Corporate Family Rating is unlikely.

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