Transocean (RIG): One of the Best Stocks Under $10 to Invest In

Transocean Ltd. (NYSE:RIG) is one of the 10 Best Stocks to Buy Under $10. On June 11, S&P Global Ratings upgraded Transocean Ltd. (NYSE:RIG) from ’CCC+’ to ’B-’ and removed the company from CreditWatch positive.

The ratings agency pointed to improving leverage and liquidity after the company reduced its debt and secured new contracts. S&P Global Ratings also assigned Transocean Ltd. (NYSE:RIG) a positive outlook.

Transocean Ltd. (RIG) Up 9.5% Ahead of Q2 Earnings

Since February 2026, the company has added more than $1.6 billion to its backlog. Transocean Ltd. (NYSE:RIG) has about $5.1 billion of debt principal remaining. At the end of 2024, the company had forecasted that it would reduce its debt to $6 billion by the end of 2026. This means the company is already more than $900 million ahead of schedule in its efforts to reduce debt and strengthen the balance sheet.

S&P Global Ratings expects Transocean Ltd.’s (NYSE:RIG) funds from operations to debt ratio to improve to between 15% and 18% over the next two years.

Transocean Ltd. (NYSE:RIG) is an international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a strong focus on ultra-deepwater and harsh environment drilling services. The company operates the world’s highest specification floating offshore drilling fleet.

While we acknowledge the risk and potential of RIG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than RIG and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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