OREANDA-NEWS. May 31, 2012. Eurasia Drilling Company Limited ("EDC" or the "Company" - LSE: EDCL), the leading onshore and offshore drilling service provider in the CIS, announces that the global ratings agency Fitch Ratings (“Fitch”) has affirmed EDC’s Long-term foreign currency Issuer Default Rating at 'BB' with a Stable Outlook. Fitch has also affirmed the senior unsecured rating of the 8.4% coupon RUB5bn bonds due in 2018 issued by LLC  Burovoya Kompaniya Eurasia, EDC's wholly owned indirect subsidiary, at 'BB'.

Mr. W. Richard Anderson, EDC’s Chief Financial Officer, commented,

“EDC considers the maintaining of a strong financial profile with solid operating margins, good operational cash flows and a strict adherence to managing debt as fundamental to running the business. We are therefore pleased that Fitch has recognised this by affirming our BB rating. We have a strong financial platform for growth and remain confident of reaching our financial and operational targets for the year.”