S&P affirms C.A.T. oil

Standard & Poor's said it affirmed its B+ long-term and B short-term corporate credit ratings on C.A.T. oil AG.

The outlook was revised to positive from stable.

The affirmation reflects a view that the company's market positions in Russia's hydraulic fracturing and sidetracking markets remain favorable, S&P said.

Its significant operating flexibility, thanks to its small proportion of fixed costs and discretionary capital expenditures, helps the company maintain high profitability and positive free operating cash flow generation, even in the weak market environment, the agency said.

© 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.