Moody's lowers Seacor

Moody's Investors Service said it downgraded Seacor Holdings Inc.'s corporate family rating and senior notes ratings to Ba3 from Ba1.

The outlook was changed to stable from negative.

Moody's said the action follows the company's recent debt issuance and special dividend announcement.

"The two-notch downgrade to Ba3 was primarily driven by Seacor's smaller asset base following the pending Era Group spin-off and the company's increasingly aggressive financial policies," Moody's vice president Pete Speer said in a news release. "The downgrade also incorporated the company's weak operating performance and high financial leverage metrics."

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