Provider: Directors Deals Ltd.
Songa Offshore SE: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Standard & Poor's Downgrades Songa Offshore SE
Standard & Poor's announced that it lowered its long-term corporate credit rating on Songa Offshore SE (Songa) to B from B+. At the same time, it placed the rating on CreditWatch with negative implications. The downgrade reflects the revised forecasts for Songa's 2012 operating performance, which are substantially lower than Standard & Poor's previous forecasts. This reflects a lower utilization rate in the rig fleet in the first nine months of the year due to technical issues and yard stays.
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