Moody's: BW view negative

Moody's Investors Service said it changed the outlook of BW Group to negative from stable.

At the same time, Moody's affirmed the company's Ba1 corporate family and senior unsecured ratings.

"The change in outlook reflects a steep decline in the daily charter rates for petroleum tankers together with BW's increased exposure to spot rates," Vikas Halan, a Moody's vice president and senior analyst, said in a news release. "This situation is expected to result in a weaker operating performance in 2011 and downward pressure on the company's credit metrics."

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