OREANDA-NEWS. Eurasia Drilling Company Limited (“EDC” or the “Company” - LSE: EDCL) the leading onshore & offshore drilling service provider in the CIS, announces that the global ratings agency Standard and Poor's (“S&P”) has affirmed its long-term corporate credit rating at 'BB+' and its 'B' short-term rating with a stable outlook.

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

“We are very pleased that S&P affirmed our rating in these uncertain times. The rating reflects the Company's solid credit metrics, supported by a growing domestic market and higher added value drilling services as well as our track record of operating a prudent financial policy.”

EDC is the largest provider of onshore drilling services in Russia, as measured by the number of metres drilled, providing onshore integrated well construction services and workover services. The Company also provides offshore drilling services in the Caspian Sea and is the largest provider of such services in the sectors where it operates based on the number of jack-up drilling rigs. The Company offers its onshore integrated well construction services and workover services to local and international oil and gas companies primarily in Russia and its offshore drilling services to Russian and international oil and gas companies in the Russian, Kazakh and Turkmen sectors of the Caspian Sea. In addition, the Company provides onshore drilling services in Iraq. The Company is traded on the London Stock Exchange under the symbol “EDCL”.