Moody’s applies Baa2 to Oceaneering loans

Moody's Investors Service said it assigned a Baa2 rating to Oceaneering International, Inc.’s $800 million senior unsecured credit facility comprised of a $300 million term loan facility and a $500 million revolving credit facility.

The outlook is stable.

"Oceaneering's diversified operations, leading market position in the offshore remotely operated vehicles space, low leverage and a history of free cash flow generation are the key underpinnings of its strong credit profile," Moody's assistant vice president Sajjad Alam said in a news release.

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