Bulletin: Hornbeck Offshore Services Ratings Unaffected By Shipyard Transactions With Superior Offshore Jan 08
- ID: 2084729
- January 2008
- Standard & Poors
NEW YORK (Standard & Poor's) Jan. 9, 2008--Standard & Poor's Ratings Services said today that its ratings and outlook on Hornbeck Offshore Services Inc. (BB-/Stable/--) are unaffected by Hornbeck's announcement that it has agreed to buy the Superior Achiever, a multipurpose support vessel currently being constructed by Merwede Shipyard in the Netherlands for Superior Offshore International Inc. At the same time, Superior Offshore contracted with Hornbeck for a five-year time charter on this vessel or another, similar one. Hornbeck also announced that it has added two more 240-foot offshore supply vessels to its construction program and purchased a leasehold interest adjacent to its HOS Port in Port Fourchon, La. Estimated total spending for all these transactions is about $190 million,...
Companies mentioned in this report are: Hornbeck Offshore Services Inc.
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