Withdrawal of Moody’s credit ratings

26 April 2016
Company announcement no. 4/2016

Withdrawal of Moody’s services related to Welltec A/S and the 2019 Senior Secured Notes


Michael Krabbe, CFO

Welltec A/S (Welltec®) has with immediate effect decided to withdraw and cancel the services from Moody’s Investors Service (Moody’s) in relation to the Welltec B1/Negative corporate family rating and the B1/Negative Senior Secured credit rating related to the 2019 Senior Secured Notes issued by Welltec® in February 2012.

Following the cancellation, Welltec® continues to be rated by Standard & Poor’s Ratings Services.

For further information, please contact:
Michael Krabbe, CFO

About Welltec®
Welltec® is a leading provider of well intervention services to the oil and gas industry using robotic technology. We are also expanding into well completion products and solutions. Our services and solutions enhance well production performance and increase the amount of recoverable oil and gas reserves in reservoirs. We provide our services and solutions for onshore and offshore oil and gas wells and operate in deepwater, subsea, Arctic, high-yield, heavy oil, geothermal and unconventional environments as well as conventional environments. For the twelve months ended December 31, 2015, Welltec reported revenues of USD 246 million.