| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers C > Headlines for China Oilfield Services Ltd. > News item |
S&P downgrades China Oilfield
S&P said it lowered the long-term corporate credit rating on China Oilfield Services Ltd. to BBB from BBB+.
The agency also said it lowered the long-term issue rating on the senior unsecured debt that the company guarantees to BBB from BBB+.
S&P also said it lowered the long-term Greater China regional scale rating on the company and its guaranteed debt to cnA from cnA+.
The outlook is stable.
The downgrades reflect the company’s weak financial performance so far this year with an only gradual recovery expected over the next 12- to 24-months, S&P said.
The company reported weak results for the third quarter – a quarter that generally shows the best performance of the company’s year, the agency said.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.