Pacific Drilling (PACD) Tops Q3 EPS Views

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Go back to Pacific Drilling (PACD) Tops Q3 EPS Views

Pacific Drilling (PACD) Downgraded to 'CCC-' by S&P; Outlook Negative

November 10, 2016 11:02 AM EST

S&P Global Ratings lowered its corporate credit rating on Pacific Drilling S.A. (NYSE: PACD) to 'CCC- from 'CCC+'. The outlook is negative.

At the same time, we lowered the issue-level rating on the company's secured 2013 credit facility to 'CCC+' from 'B'. We also lowered the rating on the company's term loan and senior secured notes to 'CCC' from 'B-'. The recovery rating remains... More