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Allis-Chalmers Energy Inc. Dec 11
Standard & Poors, Dec 2011
Abstract
Geographic and product line diversity. Participation in the highly cyclical and competitive oilfield services industry; Concentrated customer base; and High debt leverage. The 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 Standard & Poor's Ratings Services' view of the company's geographic and product diversification. In February 2011, Allis-Chalmers was acquired by a wholly owned subsidiary of Bermudan-Norwegian oilfield services company, Seawell Ltd. (not rated). The surviving entity continues under the name Allis-Chalmers Energy Inc. Following the merger, Seawell Ltd. changed its name to Archer Ltd. Because of the merger, organizational and...
Companies mentioned in this report are: Allis-Chalmers Energy Inc. (Unsolicited Ratings)
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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