Moody’s alters Anton view to stable

Moody’s Investors Service said it revised its outlook for Anton Oilfield Services Group to negative from stable and affirmed its B1 corporate family and senior unsecured ratings.

"The change in the rating outlook to stable reflects our expectation that Anton's liquidity profile has improved and that the company will continue to proactively manage its refinancing process using its positive adjusted free cash flow and access to solid banking credit facilities, considering its sound fundamentals and good customer mix," said Chenyi Lu, a Moody's vice president and senior credit officer, in a press release.

The agency noted Anton shaved its adjusted by RMB 1.26 billion to RMB 859 million as of the end of December. Concurrently, Moody’s estimates Anton will improve its adjusted leverage, as measured by adjusted debt/EBITDA, toward 1x-1.5x over the next 12-18 months, “which is strong for its rating level.”

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