Fitch Ratings has confirmed Aker Solutions ASA's long-term Issuer Default Rating (IDR) and senior unsecured rating at 'BBB-' respectively, and assigns a local currency IDR of 'BBB-'. The agency has simultaneously removed Aker Solutions from Rating Watch
"We are pleased about Fitch's confirmation of our investment grade rating. We see the negative outlook as a reminder of the short term
Fitch underlines that Aker Solutions' ratings are constrained by the cyclical process and oil and gas industries, with its earnings being largely dependent on the operating and capital expenditure of oil and gas majors.
"We see our recent contract wins in Russia (Sahkalin I), Kazakhstan (Kashagan Hook Up) and the North Sea (StatoilHydro well service
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