--Senior unsecured notes at 'BBB-'. The Rating Outlook is Stable. Approximately $700 million in total debt is outstanding at SEACOR. SEACOR's ratings are supported by the company's historically stable credit profile, diversity of operations, and the size, diversity and quality of the company's fleet of offshore vessels. The company's conservative credit profile is further supported by management's willingness to maintain large cash and securities balances throughout industry cycles, which have resulted in the company typically maintaining very low (and often negative) leverage levels as measured on a net debt basis. In addition, management retains significant flexibility to reduce capital expenditure levels during industry downturns.