Driller Sees Two-Notch Chop

Driller Sees Two-Notch Chop

Colombia Bonds Corporate & Sovereign Strategy

Fitch has downgraded Tuscany International Drilling’s credit rating to B minus from B+, it says. “The rating downgrade reflects Tuscany's limited liquidity position and its difficulties lowering leverage levels to be in line with Fitch’s expectations due to drilling rigs coming out of contract as well as a contained number of unexpectedly contract cancellations,” the agency says. These events have hindered the Colombia oil services company’s ability to generate cash flow from operations, and a l

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