London, 21 October 2014 -- Moody's Investors Service has today downgraded to Ba3/Ba3-PD from Ba2/Ba2-PD the corporate family and probability of default ratings of Tullow Oil plc ("Tullow") Moody's also downgraded to B2/LGD 5 from B1/LGD 5 the ratings on its USD 650 million 2020 and USD 650 million 2022 senior notes. Concurrently, Moody's assigned a negative outlook to the issuer.

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