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  "documentTitle": "European Distressed Credit Watch List",
  "authorId": "AlvarezMarsal",
  "authorName": "Alvarez & Marsal",
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  "notes": "Slide provides a snapshot of Transocean's business, credit rating history, debt profile, and key financial metrics from 2013 to LTM Mar-16.",
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      "text": "Net Debt / EBITDA: 2.34x",
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      "kind": "paragraph",
      "text": "- Mar 16 - Transocean downgraded to B2 from Ba2 with stable outlook due to weak dayrates and utilization...",
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      "kind": "paragraph",
      "text": "Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide...",
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      "kind": "source-note",
      "text": "Source: Capital IQ, Debtwire, Company website",
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      "text": "Capital Structure (EUR m) table",
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      "text": "Financial Summary (EUR m) table",
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      "kind": "title",
      "text": "W. ENERGY – TRANSOCEAN",
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      "numberValue": 2.34,
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      "evidence": "The slide provides an overview of Transocean, indicating an audience familiar with the company or the energy sector.",
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      "matchId": "019dd95a-1055-74e0-a962-e09031d8ff64",
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      "confidence": 82
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      "arcName": "The Onion",
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      "position": 4,
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      "evidence": "Aggregate table (p16) followed by 23 same-template issuer cases reads as Evidence A, B, C → pattern.",
      "position": 3,
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}