MDR McDermott International Inc

McDermott International, Inc. (NYSE:MDR) (�McDermott� or the �Company�) announced today that both of the major corporate credit rating services, Standard & Poor�s Ratings Services (�S&P�) and Moody�s Investors Service (�Moody�s�), have upgraded their respective ratings of McDermott and its rated subsidiaries. Included among the recent ratings activity, McDermott�s corporate credit rating at S&P was raised to BB+ from BB, with a positive outlook, and the Company�s corporate family rating at Moody�s was raised to Ba2 from Ba3, also with a positive outlook. �These credit rating upgrades are further external recognition of our strong operating performance, record backlog, and conservative balance sheet,� said Michael S. Taff, Senior Vice President and Chief Financial Officer. McDermott is an engineering and construction company, with specialty manufacturing and service capabilities, focused on energy infrastructure. McDermott�s customers are predominantly utilities and other power generators, major and national oil companies, and the United States Government. With its global operations, McDermott operates in over 20 countries with more than 25,000 employees, and can be found on the internet at www.mcdermott.com.