New York, March 29, 2016 -- Moody's Investors Service, ("Moody's"), changed Tutor Perini Corporation's ("Tutor Perini") outlook to negative from stable. At the same time, Moody's affirmed Tutor Perini's Ba3 corporate family rating, Ba3-PD probability of default rating, the B1 rating on its 7.625% senior unsecured notes due 2018 and its Speculative Grade Liquidity Rating of SGL-3. The change in outlook reflects the deterioration in the company's 2015 operating performance, credit metrics and liquidity and the expectation its credit metrics will remain weak for its rating in the near term.

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