London, 24 March 2015 -- Moody's Investors Service has today downgraded corporate family rating and probability of default rating (CFR) of Tullow Oil plc ("Tullow") to B1/B1-PD from Ba3/Ba3-PD. The ratings on its USD 650 million 2020 and USD 650 million 2022 senior notes were downgraded to B3/LGD 6 from B2/LGD 5 following the downgrade of Ghana's sovereign rating by Moody's by one notch to B3/negative on 19 March 2015. The outlook on all Tullow's ratings remains negative.
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