Fitch affirms Anton Oilfield

Fitch Ratings said it affirmed Anton Oilfield Services Group's long-term issuer default rating at B. The outlook is stable.

Fitch also affirmed Anton's senior unsecured rating and the rating on the company's $300 million 9¾% bonds maturing 2020 at B with a recovery rating of RR4.

“Anton's leverage has declined and we expect its FFO adjusted net leverage to stay at around 2.5x over 2019-2022, driven by EBITDA growth from strong new orders and steady contract execution, and good cash management on working capital and capex,” the agency said in a news release.

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