Dryships Recovers : Ocean Rig Update and Analysis

DryShips Inc. Research Report

On September 3, 2013, DryShips Inc. (DryShips) reported that its subsidiary Ocean Rig UDW Inc. (Ocean Rig) has signed a supplemental agreement to amend specific provisions in its c.$1.4 billion Senior Secured Facility, dated February 28, 2013. Under the terms of this agreement, the current dividend restriction of up to 50% of preceding fiscal year net income will be amended to apply on a cumulative basis from July 1, 2013 onwards and include a carve-out to pay additional dividends up to the higher of $150 million and 5% of the Ocean Rig’s net tangible assets. DryShips also stated that the minimum interest coverage ratio requirement will be 2.0 times until June 30, 2015, and the maximum leverage ratio will be 6.5 times until June 30, 2014, 6.0 times until December 31, 2014, and 5.5 times until June 30, 2015. The Full Research Report on DryShips Inc. – including full detailed breakdown, analyst ratings and price targets – is available to download free of charge at: [http://www.investorsreports.com/report/2013-09-26/DRYS]

Jack a Bass Managed Accounts benefit from the sector recovery today :


As of 01 Oct 2013 at 11:50 AM EDT.


Open 3.54 P/E Ratio (TTM)
Last Bid/Size 3.77 / 101 EPS (TTM) -0.83
Last Ask/Size 3.78 / 201 Next Earnings
Previous Close 3.54 Beta 3.17
Volume 11,102,859 Last Dividend
Average Volume 28,559,140 Dividend Yield 0.00%
Day High 3.82 Ex-Dividend Date
Day Low 3.54 Shares Outstanding 403.8M
52 Week High 4.00 # of Floating Shares 347.1371M
52 Week Low 1.46 Short Interest as % of Float 2.06%

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