Fitch Ratings said Thursday that it has affirmed SEACOR Holdings' (CKH) Issuer Default Rating at 'BBB-'.
The Rating Outlook is has been revised from Stable to Negative.
Fitch said SEACOR's ratings are supported by the company's diversity of operations across different business lines, and the size, diversity and quality of the company's fleet of offshore vessels.
The Negative Outlook is driven by a number of factors. The offshore services segment is beginning to rebound from the oil price collapse in late 2008 and the drilling moratorium in the U.S. Gulf of Mexico. However the rebound has been slower than previously anticipated and performance remains weak relative to pre-2008 levels, the rating agency noted.
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