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: Outlook: Stable
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Research type: News
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