March 18, 2020 / 4:50 PM / 14 days ago

BRIEF-Moody's Says North American Oilfield Services And Drilling Sector Faces High Refinancing Risk, Weak Access To Capital Markets

March 18 (Reuters) - Moody’s:

* MOODY’S SAYS NORTH AMERICAN OILFIELD SERVICES AND DRILLING SECTOR FACES HIGH REFINANCING RISK, WEAK ACCESS TO CAPITAL MARKETS

* MOODY’S SAYS OFS SECTOR IS MORE STRESSED IN TERMS OF REFINANCING THAN THE E&P OR MIDSTREAM SECTOR, DESPITE ITS SMALLER DEBT LOAD

* MOODY’S SAYS WEAK EARNINGS CONSTRAINED OFS COMPANIES’ ACCESS TO CAPITAL MARKETS, OUTBREAK OF CORONAVIRUS EXACERBATES THEIR CREDIT STRESS

* MOODY’S SAYS WHILE LARGER, INVESTMENT-GRADE OFS FIRMS ARE BETTER EQUIPPED TO WITHSTAND WEAKNESS, LOWER-RATED AND SMALLER COS FACE HIGH RISK OF DEFAULT Source text for Eikon:

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