Research Update: Oil States International Inc. Assigned 'BB' Ratings; Outlook Stable May 11
Standard & Poors, May 2011
Abstract
U.S. oilfield services company Oil States International Inc. plans to issue $600 million of senior unsecured notes due 2019 primarily to repay existing borrowings under its credit facilities. We are assigning our 'BB' corporate credit rating to Oil States International Inc. We are assigning a 'BB' issue rating to the company's planned $600 million senior unsecured note offering due 2019 and to its existing $175 million senior notes due 2025. The stable outlook reflects our view that good near-term growth prospects in the company's existing business segments should result in OIS maintaining low debt leverage in 2011 as it funds its increased capital expenditure program. On May 19, 2011, Standard & Poor's Ratings Services assigned its 'BB' corporate credit rating...
Companies mentioned in this report are: Oil States International Inc.
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
Oil States International Inc.
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