S&P Upgrades Ocean Rig Norway

Standard & Poor's Rating Services (S&P) on February 29, 2008, raised their long-term corporate credit rating for Ocean Rig Norway AS, a wholly owned subsidiary of Ocean Rig ASA, to "B" from "B-", and also upgraded the rating on the USD 150 million senior secured second-lien notes to "B" from "B-". The outlook is stable.

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