Hornbeck Offshore Services Inc.'s $450 Million Senior Unsecured Notes Rated 'BB-' (Recovery Rating: 2) Mar 13
- Language: English
- Published: March 2013
Hornbeck is planning a $200 million senior unsecured notes offering due 2017. We are assigning a 'BB-' issue-level rating to the proposed notes with a recovery rating of '3'. Our stable outlook on the 'BB-' corporate credit rating reflects our assumption that Hornbeck's fleet expansion will be beneficial to credit metrics over the near term. NEW YORK (Standard & Poor's) Aug. 12, 2009--Standard & Poor's Ratings Services today assigned its 'BB-' senior unsecured rating to marine services firm Hornbeck Offshore Services Inc.'s proposed $200 million senior unsecured notes due 2017, the same as the corporate credit rating on the company. We assigned a '3' recovery rating to this debt, indicating expectations of meaningful (50% to 70%) recovery in the event...
Companies mentioned in this report are: Hornbeck Offshore Services Inc.
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Hornbeck Offshore Services Inc.