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Prospect News home > News index > List of issuers H > Headlines for Helmerich & Payne, Inc. > News item |
S&P put Helmerich & Payne on negative watch
S&P said it has revised the outlook to negative from stable for Helmerich & Payne Inc.
The agency has also affirmed the BBB+ user credit rating.
“The negative outlook incorporates our view that funds from operations to debt will decline below 60% and debt to EBITDA will rise above 1.5x over the near-term as demand for rigs declines and day rates weaken,” S&P remarked.
S&P also said that it is “forecasting negative discretionary cash flow in 2020 and 2021, largely driven by lower demand for onshore drilling, as well as the company's current substantial dividend,” although the agency noted that the company is re-evaluating its dividend.
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