Moody’s affirms Seadrill Partners

Moody's Investors Service said it affirmed Seadrill Partners LLC's corporate family rating of Caa2 and probability of default rating of Caa2-PD.

Concurrently, Moody's affirmed the Caa2 rating on the $2.9 billion senior secured term loan due 2021, borrowed by subsidiaries Seadrill Operating LP and Seadrill Partners Finco LLC, and the B1 rating on the $100 million first-out secured revolving credit facility due 2019, borrowed by Seadrill Operating LP, Seadrill Partners Finco LLC and Seadrill Capricorn Holdings LLC.

The outlook remains stable.

“The affirmation of Seadrill Partners' Caa2 corporate family rating follows the successful emergence from restructuring of its parent company Seadrill Ltd. (unrated) with no detrimental effect on SDLP's own operations,” the agency said in a news release.

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