Research Update: Helix Energy Solutions Group Inc. Upgraded To 'B+' From 'B'; Outlook Stable Sep 11
Standard & Poors, September 2011
Abstract
U.S. marine contractor and oil and gas firm Helix Energy Solutions has demonstrated sustained operating and financial performance improvement over the last several quarters due to healthy demand for its well intervention and robotics services and favorable trends in crude oil prices. We are raising the corporate credit rating on Helix to 'B+'. We are raising the senior secured debt rating to 'BB-' and the unsecured debt rating to 'B-'. The stable outlook reflects our expectation that Helix will sustain credit protection measures at levels consistent with the 'B+' category, due to by healthy demand for its contracting services and its oil-weighted production profile. On Sept. 19, 2011, Standard & Poor's Ratings Services raised its corporate credit rating on Houston-based...
Companies mentioned in this report are:
- Helix Energy Solutions Group Inc.
Action: Upgraded
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
- Helix Energy Solutions Group Inc.
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