New York, September 13, 2013 -- Moody's notes that URS announcement to return at least $500 million to shareholders in 2014 and 2015 is a credit negative but does not affect the current Baa3 rating and stable outlook at this time. The company expects to fund these shareholder friendly actions with free cash flow and to use its remaining free cash flow to fund organic growth and to pay down debt. Moody's views this commitment to shareholders as a credit negative considering the company's credit metrics are weak for an investment grade company in the engineering and construction industry. For further details please refer to the issuer comment dated September 13, 2013 and posted on www.moodys.com.

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