Moody’s rates Transocean notes Caa1

Moody’s Investors Service said it assigned a Caa1 rating to Transocean Inc.’s proposed new $750 million senior priority guaranteed unsecured notes due 2027. The notes will be unsecured, but will be guaranteed by certain Transocean subsidiaries and its parent company Transocean Ltd. The notes will be pari passu to the existing $2.25 billion senior priority notes, which are rated Caa1. The net proceeds will be used to refinance, repurchase and/or redeem certain indebtedness,and/or for general corporate purposes.

All other ratings for the company remain unchanged.

The outlook remains negative.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.