- Published: May 2012
Hornbeck Offshore Services Inc. Jun 10
- Published: June 2010
- Standard & Poors
A young, technologically advanced offshore supply vessel (ODV) fleet; and Growing market, geographic, and business diversity. Limited, but improving, market diversity; Very cyclical pricing and utilization; and Weak market conditions for the marine transportation business. The ratings on Covington, La.-based Hornbeck Offshore Services Inc. reflect the risks posed by the company's niche position in the highly volatile offshore supply vessel (OSV) industry, aggressive growth strategy, and elevated debt leverage. The company's young, technically advanced OSV fleet, growing geographic and business diversification, and historically better-than-average performance of its deepwater market somewhat buffer the above risks. Standard & Poor's Ratings Services believes that the current six-month moratorium on deepwater drilling in the U.S. Gulf of Mexico will adversely affect utilization and dayrates...
Companies mentioned in this report are: Hornbeck Offshore Services Inc.
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
SHOW LESS READ MORE >
Hornbeck Offshore Services Inc.
|Electronic||The report will be emailed to you.|