Tags: US | Key | Energy | Ratings

S&Amp;P Raises Outlook for Key Energy Services

Monday, 16 Aug 2010 02:26 PM

Standard & Poors Ratings Services raised its outlook for oilfield services provider Key Energy Services Inc. on Monday, and affirmed its corporate credit rating at "BB-."

The outlook was raised to "Stable," from "Negative."

Key has said it will sell its pressure pumping business for $257 million, and will buy some assets of OFS Energy Services for $222 million.

S&P wrote that the "Stable" outlook reflects improving industry conditions as well as improving financial measures at Key.

Key Energy shares rose 41 cents, or 4.8 percent, to $8.94 in afternoon trading.

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Standard Poors Ratings Services raised its outlook for oilfield services provider Key Energy Services Inc. on Monday, and affirmed its corporate credit rating at "BB-."The outlook was raised to "Stable," from "Negative."Key has said it will sell its pressure pumping...
US,Key,Energy,Ratings
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2010-26-16
Monday, 16 Aug 2010 02:26 PM
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