Adding Insult to Injury: Societe Generale Downgrades Offshore Drillers

Yes, it’s true. With offshore drillers like Noble (NE) Rowan (RDC) and Ensco (ESV) all down more than 20% this year, Societe General now have “neutral” stance on the group. The bank cut its ratings on Noble, Ensco and Rowan, as well. Agence France-Presse/Getty Images Societe Generale’s Edward Muztafago explains why now: Conditions in the [...]