We expect Ausdrill's credit metrics to remain below our expectations for the 'BB-' rating and will now be commensurate with an "aggressive" financial risk profile. As a result, we have lowered our ratings on Australia-based mining services company Ausdrill and the company's senior unsecured debt to 'B+', from 'BB-'. We are also lowering the ratings on the senior secured debt to 'BB' from 'BB+'. On March 20, 2015, Standard&Poor's Ratings Services lowered its corporate credit rating on Australian mining services provider Ausdrill Ltd. to 'B+', from 'BB-'. At the same time, we lowered the ratings on Ausdrill Finance Pty Ltd.'s US$300 million, senior unsecured, and subordinated notes to 'B+' from 'BB-'; the recovery rating is '4L' (30%-50%, lower
