Credit Ratings
Rowan has been assigned credit ratings by the following agencies:
| Agency |
Rating |
| Moody’s |
B2 |
| Standard & Poor’s |
B+ |
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 $1.29 billion through maturity in 2021. There were no amounts drawn under the revolving credit facility as of June 30, 2017
Long-Term Debt ($ millions)
| Outstanding debt notes and maturity date |
June 30, 2017 Carrying Value |
| 7.875% Senior Notes, due 2019 |
$207.2 |
| 4.875% Senior Notes, due 2022 |
$625.1 |
| 4.75% Senior Notes, due 2024 |
$395.8 |
| 7.375% Senior Notes, due 2025 |
$497.3 |
| 5.4% Senior Notes, due 2042 |
$395.0 |
| 5.85% Senior Notes, due 2044 |
$396.2 |
| Total long-term debt |
$2,516.6 |
Weighted-average annual interest rate is 5.9%
The Senior Notes are fully and unconditionally guaranteed on a senior and unsecured
basis by Rowan Companies plc.