Moody's assigns IG Seismic B2 CFR

Moody's Investors Service said it assigned a B2 corporate family rating and a B2-PD probability of default rating to IG Seismic Services plc, a pure-play, land and transition-zone seismic company that services oil and gas production companies primarily in Russia and the Commonwealth of Independent States.

The outlook is stable.

"The assigned B2 rating balances risks related to IGSS's relatively small scale of operations by global standards, and concentration on a single segment of the oilfield services business, with the company's leading position in the Russian market and strategic partnership with Schlumberger Ltd., which enhances its competitive advantage vis-a-vis domestic peers," Julia Pribytkova, Moody's vice president, senior analyst and lead analyst for IG Seismic, said in a news release.

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