April 03, 2020 | Cbonds
|Yesterday, April 2, S&P Global Ratings downgraded issuer credit rating on KCA Deutag UK Finance, international oil and gas services company, to SD (selective default) from CCC+. |
The agency lowered the ratings as the company said to use its 30-day grace period. Thus, it didn't pay about $45 million in interest due to the holders of the senior secured notes maturing 2022 and 2023 on April 1, 2020.
At the same time, S&P lowered the issue credit ratings on the affected bonds to D from CCC+.
Company: KCA Deutag UK Finance
|Full company name||KCA Deutag UK Finance plc|
|Country of risk||United Kingdom|
|Country of registration||United Kingdom|
|Industry||Oil and gas|