Oil field service provider Superior Energy Service also joined the ranks of the investment grade, seeing its credit rating rise to BBB-. Superior recently bought Complete Production Services for a transaction value of $2.9 billion.
The acquisition of Complete gave Superior greater geographic diversity, allowing to continue to take advantage of increased demand for coiled tubing, S&P noted. The credit rating agency expects Superior to maintain its “positive operating momentum and the credit measures appropriate for the new category.”
"My well came in big, so big, Bick and there's more down there and there's bigger wells. I'm rich, Bick. I'm a rich 'un. I'm a rich boy." - Jett Rink
Don't believe anything I say. Do your own DD. Insert huge disclaimer here ____________.