S&P: GulfMark unchanged

Standard & Poor's said ratings and outlook on GulfMark Offshore Inc. (BB+/stable) are unaffected by the its plans to acquire Rigdon Marine Corp. for $560 million, including the assumption of $268 million of Rigdon debt.

S&P said the acquisition of Rigdon would enhance GulfMark's geographic diversity and provide it an entry into the Jones Act-protected U.S. Gulf of Mexico, helping to lessen its reliance on its North Sea division.

The benefits are tempered by the rise in the debt-to-EBITDA ratio to 3.5 times at the close of the deal, according to the agency.

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