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Allis-Chalmers Energy Inc. Jun 11
Standard & Poors, June 2011
Abstract
Geographic and product line diversity. Participation in the highly cyclical and competitive oilfield services industry; Concentrated customer base; and High debt leverage. Standard & Poor's Ratings Services' ratings on Allis-Chalmers Energy Inc. reflect the company's position as an oilfield services provider operating in a highly cyclical and competitive industry, its concentrated customer base, and high debt leverage. These risk factors are partially offset by the company's geographic and product diversification. In February 2011, Allis-Chalmers completed its merger with and into a wholly owned subsidiary of Bermudan-Norwegian oilfield services company Seawell Ltd. The surviving entity continues under the name Allis-Chalmers Energy Inc. Following the merger, Seawell changed its name to Archer. Because of the merger, organizational and management changes may occur...
Companies mentioned in this report are: Allis-Chalmers Energy Inc. (Unsolicited Ratings),Pan American Energy LLC
Action: Review
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: Full Analysis
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