Weatherford Announces S&P Credit Rating Upgrade To ‘BB-’ From 'B+', Positive Outlook
Weatherford International plc - Ordinary shares (WFRD)
Company Research
Source: GlobeNewswire
HOUSTON, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced the Company’s issuer credit rating has recently been upgraded to ‘BB-’ from 'B+' by S&P Global Ratings (“S&P”). S&P based the rating upgrade on multiple factors, including improved operating efficiency and debt repayment. Girish Saligram, President and Chief Executive Officer of Weatherford, commented, “The latest S&P credit rating upgrade reflects the significant advancements Weatherford has made to enhance our financial and operational framework. Over the past three years, we have simplified our capital structure, enhanced our liquidity, and implemented a comprehensive capital allocation framework. As we look to the future, we remain focused on driving consistent profitability and robust cash flow.” About Weatherford Weatherford delivers innovative energy services that integrate proven technologies with advanced digitalization to create susta
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