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SDLP - Seadrill Partners Reduces Distribution By 90% - Get Out
Seadrill Partners LLC Representing Limited Liability Company Interests
Note: I have covered Seadrill Partners (NYSE:SDLP) previously, so investors should view this as an update to myearlier articleson the company.
Just two weeks ago, I published an article on Seadrill Partners in which I warned of a potential debt restructuring that would expose common unitholders to the risk of being wiped out, quite similar to the fate of fellow publicly-traded Seadrill subsidiaries North Atlantic Drilling and Sevan Drilling last year:
Given the upcoming loss of the company's legacy contracts and the necessity to enter into negotiations with creditors over the