Moody's: Willbros outlook negative

Moody's Investors Service said it confirmed Willbros United States Holdings Inc.'s B3 corporate family rating, Caa1 probability of default rating and B3 senior secured bank ratings but changed the outlook to negative.

At the same time, Moody's affirmed the company's SGL-4 speculative liquidity rating.

Moody's said the confirmation reflects the elimination of an impending default event as Willbros' parent, Willbros Group filed its financial statements by the April 9 deadline required by the terms of its bank agreement.

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