Moody's Reviews Transocean's (RIG) Rating for Downgrade
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S&P Places Transocean (RIG) on CreditWatch Negative Following Reassessment
January 7, 2015 3:58 PM ESTStandard & Poor's Ratings Services said today it placed its ratings on Transocean Inc. (NYSE: RIG) on CreditWatch with negative implications, including Transocean's 'BBB-' long-term corporate credit rating and 'BBB-' issue-level ratings on the company's senior debt.
The negative CreditWatch placement follows our reassessment of the challenges that Transocean faces. We expect dayrates and fleet utilization levels to continue to decline, driven by an oversupply of offshore drilling rigs and weak demand, exacerbated... More
