Credit & Debt Summary

Credit Ratings

Rowan has an investment grade credit rating assigned by the following rating agencies:

Agency Rating
Moody’s B1
Standard & Poor’s BB

Debt Summary

Bank Revolving Credit Facility

On January 25, 2016, the Company amended and restated its $1.5 billion revolving credit agreement to extend the maturity date by one year to January 23, 2021. Availability under the facility declines by $60 million to $1.44 billion from January 23, 2019 through January 23, 2020, and to approximately $1.29 billion through maturity in 2021. There were no amounts drawn under the revolving credit facility as of September 7, 2016.

Long-Term Debt

Outstanding debt notes and maturity date June 30, 2016 Carrying Value
5% Senior Notes, due 2017 $356,953
7.875% Senior Notes, due 2019 $394,492
4.875% Senior Notes, due 2022 $705,753
4.75% Senior Notes, due 2024 $397,250
5.4% Senior Notes, due 2042 $394,818
5.85% Senior Notes, due 2044 $396,101
Total long-term debt $2,645,367

Weighted-average annual interest rate is 5.6%

The Senior Notes are fully and unconditionally guaranteed on a senior and unsecured basis by Rowan Companies plc.