石油圈中国石化新闻网讯 据道琼斯10月29日消息，穆迪表示，如果现金流现有得到明显改善，美国油田服务公司和钻井公司的债务负担从长期来看是不可持续的。穆迪补充称，这将损害它们明年及以后的信贷质量。穆迪表示，该行业的平均债务/息税折旧摊销前利润（Ebitda）比率从2007年的不到1.5倍升至2017年的4.5倍以上。十年前，收益的增长速度快于债务，但在2008年至2014年期间，情况正好相反，随后在2015年至2016年，现金流缩减了30%以上，杠杆率因此增加了两倍。报告称，规模较小、多元化程度较低的油田公司面临的风险最大。 庞晓华摘译自 道琼斯 原文如下： DJ Oilfield Services’ Debt Loads ‘Unsustainable’ Oilfield services firms and drilling companies in the US have debt loads that are “unsustainable over the long term without a substantial improvement in cash flow,” Moody’s says, adding this will hurt their credit quality next year and beyond. The sector’s average debt/Ebitda ratio rose to more than 4.5 times in 2017 from less than 1.5 times in 2007, it says. “A decade ago, earnings were growing more quickly than debt, but the reverse was true between 2008 and 2014, then in 2015-16 cash flow shrunk by more than 30%, with a consequent tripling in leverage.” Small and less-diversified oilfield firms are most at risk, it says.
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