North American Energy Partners' Corporate Credit Rating Raised by Standard & Poor's
December 13 2007 - 6:59PM
Marketwired
ACHESON, ALBERTA (TSX: NOA)(NYSE: NOA) announced today that its
corporate credit rating was raised by Standard & Poor's
(S&P) Rating Services from 'B' to 'B+' and senior unsecured
debt rating to 'B-' from 'CCC+' following a review of the Company's
current and prospective business risk and financial risk
profiles.
"We are very pleased that Standard and Poor's has upgraded our
credit rating," said Rod Ruston, President and Chief Executive
Officer of NAEP. "S&P's report cited our strong market position
in servicing oil sands projects, the robust environment for our
services, the improved risk profile of our contract mix and our
improved credit profile following our IPO."
"We have focused on ensuring we have the people, processes and
strategies in place to achieve sustainable, profitable growth,"
added Ruston. "This upgrade by S&P recognizes the work we have
been doing and credits us with having the right focus and achieving
the expected results."
North American Energy Partners Inc. (www.nacg.ca) is one of the
largest providers of mining and site preparation, piling and
pipeline installation services in western Canada. For more than 50
years, NAEP has provided services to large oil, natural gas and
resource companies, with a principal focus on the Canadian oil
sands. The company maintains one of the largest independently owned
equipment fleets in the region.
Contacts: North American Energy Partners Inc. Kevin Rowand
Investor Relations, Manager (780) 960-4531 (780) 960-7103 (FAX)
Email: krowand@nacg.ca Website: www.nacg.ca
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