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Tags: US | Key | Energy | Ratings

S&Amp;P Raises Outlook for Key Energy Services

Monday, 16 August 2010 02:26 PM EDT

Standard & Poors Ratings Services raised its outlook for oilfield services provider Key Energy Services Inc. on Monday, and affirmed its corporate credit rating at "BB-."

The outlook was raised to "Stable," from "Negative."

Key has said it will sell its pressure pumping business for $257 million, and will buy some assets of OFS Energy Services for $222 million.

S&P wrote that the "Stable" outlook reflects improving industry conditions as well as improving financial measures at Key.

Key Energy shares rose 41 cents, or 4.8 percent, to $8.94 in afternoon trading.

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


InvestingAnalysis
Standard Poors Ratings Services raised its outlook for oilfield services provider Key Energy Services Inc. on Monday, and affirmed its corporate credit rating at "BB-."The outlook was raised to "Stable," from "Negative."Key has said it will sell its pressure pumping...
US,Key,Energy,Ratings
91
2010-26-16
Monday, 16 August 2010 02:26 PM
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