|
|
 |
|
Viewing report
|
|
|
|
BULLETIN:Schlumberger Oilfield Services and ICA-Fluor Daniel Consortium Awarded $500M Contract Mar 03
Standard & Poors, March 2003
Abstract
Standard & Poor's Ratings Services said today that the announcement made by the consortium formed by Schlumberger Oilfield Services (part of Schlumberger Ltd., A+/Negative/A-1) and ICA-Fluor Daniel (a subsidiary of Empresas ICA Sociedad Controladora S.A. de C.V., ICA; CCC/Negative/--) that it was awarded a $500 million contract does not affect the ratings or outlook of ICA and Schlumberger Ltd. The impact of the contract on ICA's backlog was not disclosed. Nevertheless, Standard & Poor's views the increase in the company's backlog over the past few months, which should allow ICA to maintain its revenue base, positively. The contract was awarded by Pemex Exploracion y Prodcuccion (a subsidiary of Petroleos Mexicanos, foreign currency: BBB-/Stable/--; local currency: A-/Stable/--). In addition, it is...
Companies mentioned in this report are: Empresas ICA, S.A.B. de C.V.,Comision Federal De Electricidad (CFE),Petroleos Mexicanos (PEMEX),Schlumberger Ltd.
Action: S&P Event
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
|
|
|
|
