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Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Commercial Bank of Dubai PSC and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
HOUSTON, July 19, 2019 /PRNewswire/ -- McDermott International, Inc. (MDR) announced it has been awarded a sizeable* contract by Argentina-based YPF, S.A. to provide pre-front-end engineering design (Pre-FEED) services for a five million tonnes per annum (MTPA) LNG Liquefaction Facility, with a potential expansion to 10 MTPA, at the Vaca Muerta Shale field in Argentina. The scope of work is a continuation of a previous conceptual study developed for the YPF LNG Export Facility in Argentina under a contract in 2018.
HOUSTON , July 15, 2019 /PRNewswire/ -- McDermott International, Inc. (NYSE:MDR) will report financial results for the second quarter of 2019 on Monday, July 29, 2019 after the close of the U.S. markets. ...
HOUSTON, July 10, 2019 /PRNewswire/ -- McDermott International, Inc. (MDR) announced it has been awarded a contract in excess of $1.5 billion for Package 4 of Saudi Aramco's Marjan Increment Development Project to provide engineering, procurement, construction and installation (EPCI) of offshore gas facilities and pipelines. Marjan Package 4 represents the second largest EPCI offshore contract awarded by Saudi Aramco in the Marjan Increment Development Project.
HOUSTON, June 13, 2019 /PRNewswire/ -- McDermott International, Inc. (MDR) today announced that it has been awarded a sizeable* technology contract by Ningbo Union King Polyester Material Limited for the technology license, process design engineering, and operator training services for a large-scale, grassroots 1,600 KTA paraxylene (pX) plant at Ningbo Union King's petrochemicals facility in Ningbo, China. Lummus Technology is the exclusive licensor of BP's pX technology, which offers pX production at purities of 99.8 percent with lower energy consumption and lower capital costs compared to more traditional pX technologies.
HOUSTON, Jan. 24, 2019 /PRNewswire/ -- McDermott International, Inc. (MDR) today announced that it has been awarded a sizeable* technology contract by PT Chandra Asri Perkasa for the detailed engineering of 8 proprietary SRT® (Short Residence Time) ethylene cracking heaters at the Chandra Asri Perkasa (CAP2) ethylene plant in Cilegon, Indonesia. The unit will utilize Lummus Technology's SRT® (Short Residence Time) pyrolysis heater technology to produce 1,100 KTA of ethylene and 600 KTA of propylene.
DUBAI, United Arab Emirates, Jan. 16, 2019 /PRNewswire/ -- McDermott International, Inc. (MDR) today announced it has been awarded a sizeable* contract from Daelim Saudi Arabia Company Ltd. for engineering, procurement and construction (EPC) of CB&I Storage Tanks for the Ma'aden Ammonia Plant at Ras Al-Khair, Kingdom of Saudi Arabia. The fixed lump sum contract encompasses the engineering, procurement and fabrication of four Ammonia Tanks and nine CB&I storage tanks.
Moody's Investors Service ("Moody's") has today confirmed the following ratings of Commercial Bank of Dubai PSC (CBD): the Baa1 long-term deposit ratings, the P-2 short-term deposit ratings, as well as the ba1 baseline credit assessment (BCA) and the ba1 adjusted BCA. Furthermore, Moody's also confirmed the bank's A3/P-2 Counterparty Risk Ratings and the A3(cr)/P-2(cr) Counterparty Risk Assessments.
Gary Luquette, non-executive Chairman of the Board of Directors, purchased approximately $500,000 of McDermott stock, bringing his total shares owned to 90,250. David Dickson, President and Chief Executive Officer, purchased approximately $400,000 of McDermott stock, bringing his total shares owned to 459,889. Stuart Spence, Executive Vice President and Chief Financial Officer, purchased approximately $250,000 of the company's stock, bringing his total shares owned to 141,961.
Egypt's blue-chip index rose on Tuesday, boosted by its real estate and industrial shares, while Qatar fell a day after hitting its highest level in a year and a half following a government reshuffle. ...
Moody's Investors Service ("Moody's") downgraded McDermott Technology (Americas), Inc.'s (McDermott) corporate family rating to B1 from Ba3, its probability of default rating to B1-PD from Ba3-PD, its senior secured credit facilities rating to Ba3 from Ba2, and its senior unsecured notes rating to B3 from B2. At the same time, Moody's affirmed McDermott's speculative grade liquidity rating of SGL-2.