Weatherford Announces Upgrade in Credit Rating to ‘B1’ from ‘B2’, Positive Outlook
30 Octubre 2023 - 2:30PM
Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or
the “Company”) today announced that Moody's Investors Service
("Moody's") upgraded its Corporate Family Rating to B1 from B2 with
Positive Outlook. The upgrade reflects the improvement in credit
metrics as a result of the Company reducing its balance sheet debt
and growing earnings. The positive outlook also evidences the
ongoing strong demand for Weatherford’s services and potential for
further improvement in its credit profile.
Girish Saligram, President and Chief Executive
Officer of Weatherford, commented, “The upgrade in our credit
rating by Moody’s further validates the progress we’ve made on our
journey of improving our capital structure. Our focus on generating
free cash flow and sustainable profitability will continue to guide
us as we carry this momentum forward.”
About Weatherford
Weatherford delivers innovative energy services
that integrate proven technologies with advanced digitalization to
create sustainable offerings for maximized value and return on
investment. Our world-class experts partner with customers to
optimize their resources and realize the full potential of their
assets. Operators choose us for strategic solutions that add
efficiency, flexibility, and responsibility to any energy
operation. The Company operates in approximately 75 countries and
has approximately 18,000 team members representing more than 110
nationalities and 335 operating locations.
Visit weatherford.com for more information and connect
with us on social media.
Contact:Mohammed TopiwalaVice President,
Investor Relations and
M&Ainvestor.relations@weatherford.com
For Media:Kelley HughesSr. Director, Corporate
Communications and Employee Engagement media@weatherford.com
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