Ultrapetrol (Bahamas) Limited -- Moody's downgrades Ultrapetrol's CFR to Caa1; concludes review with negative outlook

New York, April 21, 2015 -- Moody's Investors Service downgraded Ultrapetrol (Bahamas) Ltd. ("Ultrapetrol")'s Corporate Family Rating ("CFR") to Caa1 from B3 primarily due to the weak operating performance in the company's River business and negative rate pressures in the North Sea, which will result in credit metrics that are expected to be commensurate with the Caa1 rating level over the next year. Concurrently, the company's liquidity rating was lowered to SGL-4 from SGL-3 reflecting a weak liquidity profile largely based on the company's near-term debt maturities coming due in 2016. The rating outlook is negative. This action concludes the review for downgrade that commenced on February 11, 2015.

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