Fitch: U.S. High Yield Offshore Driller Woes Slide Focus Towards Recovery

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CHICAGO--(BUSINESS WIRE)--U.S. high yield offshore drillers are at heightened default risk given their backlog burn rates, declining revenue profiles, limited liquidity, and highly leveraged capital structures, according to Fitch Ratings. These characteristics provide limited through-the-cycle financial flexibility in the current weak pricing environment and make an analysis of potential recovery prospects for the high yield offshore drillers especially relevant. Fitch calculated recovery value

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