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Hercules Offshore Inc. 'B-' Ratings Affirmed, Outlook Revised To Stable On Improving Operations In U.S. Gulf of Mexico Jan 12

  • ID: 2041869
  • January 2012
  • Region: Mexico, United States
  • Standard & Poors
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  • Hercules Offshore Inc.
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U.S. offshore drilling services provider Hercules Offshore Inc. is benefiting from improving day rates and utilization for its jack-up rigs in the U.S. Gulf of Mexico. We are revising our outlook on the company to stable from negative and affirming the 'B-' corporate credit rating. The stable outlook reflects our view that Hercules' operating performance and credit metrics will improve over the coming months while maintaining adequate liquidity. NEW YORK (Standard & Poor's) Jan. 19, 2012--Standard & Poor's Ratings Services said today that it has revised its outlook on Houston-based Hercules Offshore Inc. to stable from negative and affirmed its 'B-' corporate credit rating on the company. The rating on the company's senior secured credit facility remains 'B-' (the same...

Companies mentioned in this report are: Hercules Offshore Inc.
Action: Affirmed
Action: Outlook: Stable

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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Hercules Offshore Inc.

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