Note:
Valaris PLC (NYSE:VAL) has been covered by me previously, so investors should view this as an update to my earlier articles on the company.
After recent events, it might be time for leading offshore driller Valaris investors and bondholders to prepare for restructuring its debt obligations under chapter 11 as the fallout from the coronavirus-induced reduction in worldwide oil demand, a new oil price war and the potential loss of the company's last remaining ultra high-margin contract appears to be far too much to withstand by the ailing company.
Both onshore and