ABN 49 123 052 728 Boart Longyear Limited ABN 49 123 052 728

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

14 September 2017

Rating Actions - S&P Global

Boart Longyear Limited (ASX:BLY) - Boart Longyear announces that, as foreshadowed in its recent ratings actions, S&P Global has issued revised corporate credit ratings based on Boart Longyear's post-recapitalisation capital structure. The revised ratings are, as follows:

  • Corporate credit rating raised to "CCC+"

  • Ratings on senior secured notes and senior unsecured notes increased to "CCC+" and "CCC-", respectively.

  • Recovery ratings on senior secured notes and senior unsecured notes remain unchanged at "3" and "6", respectively.

  • Outlook remains "negative".

Investor Relations: Matthew Broomfield Director, Investor Relations Australia: +61 8 8375 8300

USA +1 801 972 6430, option 9 2

ir@boartlongyear.com

Media: Michael Weir

Citadel-MAGNUS Australia: +61 8 6160 4903

Mobile: +61 402 347 032

mweir@citadelmagnus.com

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Boart Longyear Limited published this content on 14 September 2017 and is solely responsible for the information contained herein.
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