S&P changes view on KCA Deutag to negative

S&P said it revised its outlook for KCA Deutag Alpha Ltd. to negative from stable on an increased risk of a debt exchange.

“The outlook revision follows KCADs announcement of a strategic review of its capital structure and the company's recent results announcement, which did not allude to a recovery in the oil and gas drilling market,” said S&P in a press release.

The agency affirmed the CCC+ rating on the company and its senior secured facilities.

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