10:46 AM EDT, 10/05/2021 (MT Newswires) -- Moody's said Monday that it has assigned first-time ratings to Secure Energy Services Inc. (SES.TO) and the outlook is stable.
The energy services company's shares rose 3.3% on last look on Tuesday.
The ratings include a B1 corporate family rating, a B1-PD probability of default rating, a B1 rating to the company's US$500 million second-lien notes, a B3 rating to the company's C$340 million unsecured notes, and an SGL-2 speculative grade liquidity rating.
"The B1 CFR assigned to Secure reflects the company's strong market position in the Canadian oilfield services sector and our expectation that it will be able to integrate Tervita and improve leverage over the next 12-18 months" Jonathan Reid, a Moody's analyst, said in a statement.
Price: 5.29, Change: +0.17, Percent Change: +3.32