Moody's alters Oceaneering view to positive

Moody's Investors Service said it changed Oceaneering International, Inc.'s outlook to positive from stable.

"The positive outlook reflects Oceaneering's declining gross and net leverage and improving offshore market conditions for oilfield services companies driven primarily by rising confidence that oil prices will remain supportive for offshore development," said Sajjad Alam, a Moody's vice president, in a press release.

Moody's concurrently affirmed the company's B1 corporate family rating, B1-PD probability of default rating and the B1 rating on the senior unsecured notes and the senior unsecured revolving credit facility. The speculative grade liquidity rating was downgraded to SGL-2 from SGL-1 reflecting the near-term maturity of the revolver.

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