Fitch revises Borr Drilling’s outlook to negative amid weaker market By Investing.com
Update: 2025-10-30
Description
Borr Drilling's outlook has been downgraded by Fitch Ratings due to a shrinking contract backlog and lower expected day rates, leading to increased leverage. Despite securing cash options and easing loan requirements, Borr's order backlog has decreased, and its future prospects are uncertain. Fitch predicts Borr will remain cash-flow positive by managing costs and suspending dividends, but major debt maturities loom in 2028.
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