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Bulletin: Hornbeck Offshore Services Ratings Unaffected By Shipyard Transactions With Superior Offshore Jan 08 Product Image

Bulletin: Hornbeck Offshore Services Ratings Unaffected By Shipyard Transactions With Superior Offshore Jan 08

  • ID: 2084729
  • January 2008
  • Standard & Poors

Abstract
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.
Action: Bulletin

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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