MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services said its 'B'
corporate credit rating and positive outlook on Allis-Chalmers Energy Inc will
remain unaffected by the company's planned acquisition of Bronco Drilling Co Inc
for 280 mln usd of cash and about 158 mln usd of its stock.
S&P said the oilfield services company has secured a bridge loan to finance
the cash part of the acquisition, but has not yet announced permanent financing
plans.
S&P said the acquisition is not expected to close until June 2008.
TFN.newsdesk@thomson.com
pvi/ssa
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|