Boart Longyear Ltd. : Standard and Poor’s Downgrades Boart Longyear Debt Ratings

26 Butler Boulevard, Burbridge Business Park

Adelaide Airport

South Australia 5950, Australia

Tel: +61 8 8375 8375 • Fax: +61 8 8375 8498 www.boartlongyear.com

7 March 2014

Boart Longyear Limited (ASX:BLY) - Standard and Poor's Ratings Services has reviewed the
Company's debt ratings and revised them, as follows:

Corporate Credit rating - Downgraded to "CCC+" from "B"

Secured note rating - Downgraded to "B" from "BB-"

Senior unsecured note rating - Downgraded to "CCC+" from "B"

With over 120 years of expertise, Boart Longyear is the world's leading provider of drilling services, drilling equipment, and performance tooling for mining and drilling companies globally. It also has a substantial presence in aftermarket parts and service, energy, mine de-watering, oil sands exploration, and production drilling.
The Global Drilling Services division operates in over 40 countries for a diverse mining customer base spanning a wide range of commodities, including copper, gold, nickel, zinc, uranium, and other metals and minerals. The Global Products division designs, manufactures and sells drilling equipment, performance tooling, and aftermarket parts and services to customers in over 100 countries.
Boart Longyear is headquartered in Salt Lake City, Utah, USA, and listed on the Australian Securities Exchange in Sydney, Australia. More information about Boart Longyear can be found at www.boartlongyear.com . To get Boart Longyear news direct, visit http://www.boartlongyear.com/rssfeed.

Acting CFO Cato Counsel
Vice President, Investor Relations/Treasury Sydney: (02) 9212 4666
Australia 08 8375 8300 Mobile: 410 559 184
USA +1 801 401 3712 david@catocounsel.com.au ir@boartlongyear.com

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