- Language: English
- 62 Pages
- Published: October 2011
- Region: Africa, South Africa
Western Energy Services Corp. Assigned 'B+' Rating; Senior Unsecured Notes Rated 'B+' (Recovery Rating: '3') Jan 12
- Published: January 2012
- Standard & Poors
We are assigning our 'B+' long-term corporate credit rating to Western Energy Services Corp. We are also assigning our 'B+' issue-level rating, and '3' recovery rating, to the company's proposed C$125 million senior unsecured notes due 2019. We believe North American land drilling companies are benefiting from strong oil prices and a surge in horizontal drilling. The stable outlook reflects our expectations that Western's asset base would benefit from strong utilization levels and day rates. The outlook also incorporates our expectation that the company's debt-to-EBITDA will remain below 1.5x through 2012. TORONTO (Standard & Poor's) Jan. 19, 2012--Standard & Poor's Ratings Services today said it assigned its 'B+' long-term corporate credit rating to Calgary, Alta.-based land driller Western Energy Services...
Companies mentioned in this report are: Western Energy Services Corp.
Action: New Rating
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Research type: News
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Western Energy Services Corp.