S&P Places Transocean (RIG) on CreditWatch Negative Following Reassessment
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Moody's Reviews Transocean's (RIG) Rating for Downgrade
January 6, 2015 1:39 PM ESTMoody's Investors Service placed Transocean's (NYSE: RIG) Baa3 rating on review for downgrade to reflect the company's large capital commitments and Moody's expectation for a significant increase in leverage as the company enters what appears to be a prolonged industry down-cycle. The review will assess the company's capital spending, financing and dividend plans in light of the impact that weak commodity prices will have on the company's operating cash flow and leverage.
"Moody's has had a negative outlook on Transocean's Baa3 rating since May 2012. The rapid drop in oil... More
