Improvement in the utilization and dayrates of U.S.-based offshore service provider Hornbeck Offshore Services' vessels has resulted in improved operating performance. We revised the outlook on the company to stable from negative and affirmed the 'B+' corporate credit rating. At the same time, we are raising our issue-level rating on Hornbeck's senior unsecured debt to 'BB-' and revising the recovery rating to '2'. The stable outlook reflects our view that Hornbeck's credit metrics will continue to improve over the near term while maintaining adequate liquidity. NEW YORK (Standard&Poor's) Nov. 10, 2011--Standard&Poor's Ratings Services said today it revised its outlook on Covington, La.-based Hornbeck Offshore Services to stable from negative and affirmed its 'B+' corporate credit rating
