Floatel International: Moody's and S&P Global Ratings downgrade Floatel International Ltd.

FLOATEL INTERNATIONAL: Moody’s and S&P Global Ratings downgrade Floatel International Ltd.

Moody’s Investors Service (“Moody’s”) has downgraded Floatel International Ltd. to Caa1 from B3. Also S&P Global Ratings (“S&P”) has downgraded Floatel International Ltd. to CCC from B-. The rating outlook of both Moody’s and S&P are negative. Both ratings have been withdrawn on Floatel International Ltd.’s request.

For more information:
Tomas Hjelmstierna, CFO, Floatel International AB – Tel: + 46 31 352 07 00; Mob: +46 70 261 09 01