DISTRESSED DAILY: Harvey Gulf Stares Down Refinancing Risk

Some three-and-a-half years after emerging from bankruptcy, Harvey Gulf International Marine LLC is giving investors cause for concern, according to S&P Global Ratings.

Harvey Gulf, which provides boats to oil drillers in the Gulf of Mexico, has “less than adequate” liquidity and may struggle to refinance its $322 million term loan next year, according to S&P. That heightens the risk of a distressed transaction or larger restructuring as its maturity nears, analysts lead by Paul J O’Donnell wrote in a note.

A broad rise in energy prices hasn’t yet proved a boon for the offshore oil and gas ...