Moody's affirms Seadrill Partners at Caa2, outlook changed to stable
Rating Action: Moody's affirms Seadrill Partners at Caa2, outlook changed to stable. Global Credit Research- 13 Dec 2017. London, 13 December 2017-- Moody's Investors Service, today affirmed Seadrill Partners LLC's corporate family rating and probability of default rating at Caa2 and Caa2-PD, respectively.Seadrill Partners is engaged in owning, operating and acquiring offshore drilling units. Co.'s drilling units are under long-term contracts with major oil companies such as Chevron, Total, BP, ExxonMobil and Tullow. Offshore drillings units are categorized in four rigs: jack-up rigs which are mobile, self-elevating drilling platforms equipped with legs that are lowered to the ocean floor; tender rigs conduct production drilling from fixed or floating platforms; semi-submersible rigs operate in a "semi-submerged" floating position; and drillship which are self-propelled ships equipped for drilling in deepwater.
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