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Allis-Chalmers Energy Inc. Ratings Converted To Unsolicited From Solicited Jun 11
Standard & Poors, June 2011
Abstract
NEW YORK (Standard & Poor's) June 14, 2011--Standard & Poor's Ratings Services said today that it is converting all its ratings on Allis-Chalmers Energy Inc. to unsolicited status from solicited. We are converting our ratings to unsolicited because we do not have a rating agreement with this entity. The corporate credit rating on Allis-Chalmers Energy Inc. is 'B-'. The company's 9% senior unsecured notes due 2014 and 8.5% senior unsecured notes due 2017 have a 'B-' issue rating and '4' recovery rating, indicating our expectation for average (30% to 50%) recovery in the event of a payment default. The rating outlook is stable. The ratings on Allis-Chalmers Energy Inc. reflect the company's position as an oilfield services provider operating in...
Companies mentioned in this report are: Allis-Chalmers Energy Inc. (Unsolicited Ratings)
Action: General Comment
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.
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