Moody’s gives Anton notes B1

Moody’s Investors Service said it assigned a B1 rating to the proposed senior unsecured notes to be offered by Anton Oilfield Services Group.

“The proposed issuance will not impact Anton’s B1 corporate family rating or the stable outlook, because most of the proceeds will be used to refinance existing debt, while the issuance will also improve the company’s liquidity and debt maturity profile,” said Chenyi Lu, a Moody’s vice president and senior credit officer, in a press release.

Proceeds will be used primarily to refinance debt. Moody’s said it also expects the proceeds will help address Anton’s $300 million bonds in advance of the December 2020 maturity.

The outlook is stable.

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