Moody's places Petrofac under review for downgrade
Frankfurt am Main, December 21, 2016-- Moody's Investors Service, has today placed the Baa3 ratings of Petrofac Limited under review for downgrade. Those ratings include the Baa3 long-term issuer rating and the Baa3 rating assigned to the senior unsecured notes issued by Petrofac. "The review for downgrade reflects Petrofac's minimal order intake in 2016 which results in a diminished order backlog compared to the beginning of the year," says Scott Phillips, a Moody's Vice...
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