DBRS Assigns BBB (low) Rating to Babcock International Notes, Trend Stable

DBRS has today assigned a rating of BBB (low) to the $150 million 4.94% Series A senior notes due March 17, 2018, and the $500 million 5.64% Series B senior notes due March 17, 2021, issued by Babcock International Group PLC (Babcock or the Company). The trend is Stable. These notes rank pari passu with all Babcock’s senior unsecured debt. (See DBRS press release dated February 7, 2011, for details on the rating rationale.)

Notes:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is Rating Engineering and Construction Companies, which can be found on our website under Methodologies.

The methodology supporting this rating starts with the public DBRS methodology Rating Engineering and Construction Companies, recognizing that the construction-related aspects do not apply to Babcock, which is an engineering support services company. For Babcock, we also place greater stress on two areas noted as secondary considerations in the public methodology, which are “the nature of contracts” and “diversification.” In addition, there are four areas that are not part of the public methodology that we would add as meaningful considerations: technical skills, infrastructure facilities, reputation and technology.