Moody's upgrades Diamond Offshore's (DO) corporate credit rating to A3 from Baa1, citing the...

|About: Diamond Offshore Drilling Inc. (DO)|By:, SA News Editor

Moody's upgrades Diamond Offshore's (DO) corporate credit rating to A3 from Baa1, citing the contract driller's lower debt levels relative to its industry peers and its strong market position with a large offshore drilling fleet. The ratings firm says DO will have a competitive ultradeepwater and deepwater drilling rig fleet upon completion of its new drill ships.