The impact the gold price recovery could have on Boart Longyear has divided ratings agencies on the besieged drilling services company's prospects.
On Wednesday, S&P Global Ratings revised its outlook on Boart to stable from negative and affirmed its "CCC+" credit rating on the company while Moody's Investors Service issued a number of downgrades on the company, including moving its corporate family rating to Caa2 from Caa1, and maintained a negative rating outlook.
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Tess Ingram was a journalist with WAtoday. Before that, she was a reporter in The Australian Financial Review’s Perth bureau, covering business, economics and politics. Connect with Tess on Twitter.
